Increases Approved

Hebrew Free Loan raises its loan limits.

LONNY GOLDSMITH
Staff Writer

T

he Hebrew Free Loan
Association has unanimous-
ly approved an
increase in the loan
ceilings for small businesses
a nd individuals.
HFLA's Board of Directors
this month voted 18-0 to
increase the loan limit for small
businesses from $5,000 to
.
$15,000, and raise personal
loans to a maximum of $7,500.
"We would hope that people
in the community would see
that we are making adjustments
to our policy and are reaching
out to the current needs,"' said
Ruth Marcus, the agency's
executive director.
The increases are the agency's first
since at least 1975, according to
Marcus, when they shot up to
$2,000.
HFLA is a non-profit organization
that has been giving interest-free loans
for 103 years to employed members of
the Jewish community who cannot
secure funding from other sources.

The agency receives money from the
Allied Jewish Campaign and private
donors.
Loan applicants set an appointment
with the HFLA, which meets every

room to help in an extraordinary
case," said HLFA President Stuart
Snider.
The new increase means more over-
sight by the small business committee.
"With this much money
going out, we want to make
sure we get it back to turn
out again," said committee
chair Stan Bershad, who
added that collateral will be

HFLA Executive Director
Ruth Marcus with Vice
President Laurie Frankel.

The Hebrew Free Loan
Association board considers a
proposal.

Sunday to review loan requests.
Before they leave the building, they
have either been approved or
turned down.
"The loans were increased
because costs have gone up and we
want to have the flexibility to help
someone in case an emergency
comes up. We want the breathing

needed in exchange for the loan. In
the past, two co-signers were need-
ed.
In the last three years, 22 of 40
applicants for small business loans
received an average of $4,200 each.
Approved applicants included a doctor
who needed to relocate his practice, a
dry cleaner who needed to update
equipment, and video production
companies seeking hardware.
HFLA also is staking out new terri-
tory by providing loans up to $4,000
for fertility treatments and adoptions.
In the last two years, three loans have
been granted for adoptions and one
for fertility treatments.
"Five years ago, people didn't talk
openly about adoption or fertility
treatments," Marcus said. "But we saw
that there was a legitimate need in the
community."
Over the last six years, the agency
has given out 2,313 loans totaling
$4.3 million. The peak year for loans
was the 1991-92 fiscal year, when the
agency granted 500 loans totaling
$900,000. The increase was due, in
large part, to requests from new
Americans.
In 1996-97, 346 loans totaling
$784,000 were granted, and with the
new regulations in place, Marcus is
hoping to see an increase in loans by
10-20 percent and increased spending
of $100,000.
"We think we are the best kept
secret in town, and we want people to
know we are available," she said.

-NI

❑

Town Meeting

The Jewish Community Council
invites the public to exchange ideas with Federation leaders.

.

LYNNE MEREDITH COHN
Staff Writer

A

pril 1 marks a first in the
history of community
debate.

The Jewish Community Council
has invited the presidents of its mem-
ber organizations and the public to a
far-reaching discussion with Robert
H. Naftaly and Robert P. Aronson,
president and executive vice-presi-

3/27
1998

18

dent, respectively, of the Jewish
Federation of Metropolitan Detroit.
"This is the first of these kinds of
town meetings. We thought it was
appropriate to invite the top leaders
of the Federation to talk ... The bulk
of the time will be devoted to audi-
ence questions and comments; there
will not be any lengthy speeches,"
said David Gad-Harf, JCCouncil
executive director.
The JCCouncil plans to launch a
six-part series of "town meeting" pro-

grams starting next fall, he said. The
April 1 event is a pilot project.
"This is a program that is open to
the entire Jewish community. We're
particularly interested in .making sure
that leaders of the various Jewish
organizations and agencies and con-
gregations are aware of it and attend
the program," Gad-Harf said.
Under the theme, "What will be
the priorities for the 21st century?"
some issues posed for discussion will
include Israel-Diaspora relations and

the relationship between Federation,
synagogues and organizations. The
April 1 meeting will take place at the
Max M. Fisher Federation Building,
beginning at 7:30 p.m. JCCouncil
President Howard Wallach will mod-
erate the program.
Co-sponsored by The Jewish
News, the agenda also will include
the announcement of new
JCCouncil officers and board mem-
bers for 1998-99.

❑