Purely Commentary: Free loan in Hebrew: Ready to help as recession looms

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David Contorer

Hebrew Free Loan Detroit (HFL) is here to help: HFL has been on our same mission since 1895: to provide interest free loans to improve the lives of Jews across Michigan.

Let’s Talk Turkey: Inflation continues as we pay more at the gas pump, in stores, for higher education and for just about everything. We are entering a global recession that could last for some time, as political divisions and war disrupt supply chains and impact each of us and our personal economy. While most goods and services cost more, our assets continue to lose value. Debt is growing as credit cards and high interest lenders charge sinking rates for many people in our community.

Hebrew Free Loan Detroit (HFL) is here to help: HFL has been on our same mission since 1895: to provide interest free loans to improve the lives of Jews across Michigan. HFL is here to partner with borrowers to provide the following resources:

-$10,000/year (undergraduate) and $15,000/year (graduate) to cover the cost of full-time attendance at colleges and universities in Michigan.

-$15,000 debt consolidation loans for eligible applicants who first go to Gesher (formerly JVS + Kadima) for a free consultation and thorough review of their credit report and financial situation. These loans are used to pay off high interest debt and improve credit patterns.

– Loans of $20,000 for in vitro fertilization (IVF), fertility, genetic testing and adoption.

-$100,000 to start or grow a small business.

Every Jewish candidate who comes to HFL is treated with dignity, respect and confidentiality. HFL has a caring staff and a board of helpful community leaders who understand and know our Michigan area and its resources, so we partner with our borrowers to try to find solutions. History has taught us that inflation and recessions happen in cycles, and that’s why HFL is ready now (and throughout this recession) to help members of Michigan’s Jewish community with our loans. without interest.

If you know of a Jewish Michigan resident who is willing to partner with us and who could benefit from an interest-free loan, please have that person contact HFL at (248) 723-8184 or visit our website: www.hfldetroit.org. You can also scan this QR code with your smartphone camera.

David Contorer is Executive Director of Hebrew Free Loan.

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