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March 01, 1991 - Image 77

Resource type:
Text
Publication:
The Detroit Jewish News, 1991-03-01

Disclaimer: Computer generated plain text may have errors. Read more about this.

I AROUND TOWN

\ C

Ruth Marcus of Hebrew Free Loan interviews a loan applicant.

Hebrew Rae Loan
Aids Those In Need

Editor's note: Sometimes
families and individuals find
themselves short of funds for
school, to pay bills, to buy a
car or meet an emergency.
With contributions from the
Allied Jewish Campaign, the
Hebrew Free Loan Associa-
tion is able to offer no-interest
loans to working persons in
tight financial circumstances.
Gloria F. lost everything
when a fire destroyed her
apartment. Until the in-
surance settlement arrives,
she will need kitchen items
and clothing for herself and
her 11-year-old-daughter. To
help see her through, Gloria
applied for a general purpose
loan from HFLA. Her brother
and a friend co-signed the
loan, and she will be able to
repay it from her regular
monthly income.
Vladimir H., a new
American from Leningrad,
resettled in Detroit. His sister
and brother-in-law are the an-
chors for the family. 'Vladimir
found a job, but has no way to
get there. He has learned to
drive and has a Michigan
driver's license. His sister,
who has worked for 10 years
here, will help him buy a car
by co-signing and finding a
second co-signer for his loan
from the Hebrew Free Loan
Association. With his new job,
he will be able to handle the
monthly payment schedule to
repay his loan.
Robert M.'s bar mitzvah was
approaching but his family
was unable to buy him a suit
or afford a small celebration.
His parents applied for a
$1,000 loan from the HFLA
so that Robert could have new
clothes and a small family
luncheon in honor of his
special day. With the help of
the HFLA, Robert will have a

pleasant memory.
Celebrating its 95th year,
HFLA offers no-interest loans
to Detroit area Jews for cars,
homes, education, small
business needs, medical or
dental bills, or a modest bar
mitzvah or wedding celebra-
tion. This Jewish Welfare
Federation-subsidized agency
receives monies from be-
quests, family funds and
donations.
HFLA works in partnership
with the Neighborhood Pro-
ject, Jewish Educational Loan
Service, other Jewish agen-
cies and religious schools. The
agency also expanded its pro-
gram to provide assistance to
Jewish Community Center
campers.
In 1989-1990, HFLA made
nearly 450 loans valued at
about $735,000. An addi-
tional 76 mortgage loans
were made to families and in-
dividuals purchasing homes
through the Neighborhood
Project.
Since its founding, HFLA
has helped Jewish refugees
from Eastern Europe and
elsewhere resettle in freedom
in the Detroit area. Last year,
new Americans received
$483,000 in loans.
Employed individuals may
apply for a loan, which must
be paid back in one year. No
collateral is required; two co-
signers are needed. Funds are
given to the borrower within
10 days. In these difficult
times, the HFLA is working
together with other Federa-
tion agencies to creatively
find solutions in cases which
do not meet the stated
guidelines. In its 95 years,
more than $7 million in loans
have been granted by HFLA
to more than 250,000
borrowers.

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