NOVEMBER 10 • 2022 | 9

L

et’s talk turkey: Inflation 
continues, as we are 
paying more at the gas 
pump, in stores, for higher 
education and for just about 
everything. We are entering 
a global reces-
sion that may 
be around for a 
while, as political 
divides and war 
disrupt supply 
chains and trickle 
down to harm 
each of us and 
our personal economics. While 
most goods and services cost 
more, our assets continue to 
lose value. Debt is increasing as 
credit cards and high-interest 
lenders are charging rates that 
deepen the chasm for many 
people in our community.
Hebrew Free Loan Detroit 
(HFL) is here to help: HFL 
continues our same mission 
since 1895 — to 
provide inter-
est-free loans to 
enhance the lives 
of Jews across 
Michigan. HFL 
is here to partner 
with loan bor-
rowers to provide 
the following 
resources: 

• $10,000/ year (undergraduate) 
and $15,000/year (graduate) 
to cover costs of attending 
qualifying Michigan colleges 
and universities full time.
• $15,000 debt consolidation 
loans for qualifying appli-
cants who first go to Gesher 
(formerly JVS+Kadima) 

for a free consultation and 
deep review of their credit 
report and financial situation. 
These loans are to pay down 
high-interest, compounding 
debt and improve credit pat-
terns. 
• $20,000 loans for In-Vitro 
Fertilization (IVF), fertility, 
genetic tests and adoption. 
• $100,000 to launch or expand 
a small business. 
 
Each Jewish applicant who 
comes to HFL is treated with 
dignity, respect and confidenti-
ality. HFL has a caring staff and 
helpful board of community 
leaders who understand and 
know our Michigan region with 
its resources, so we partner with 
our loan borrowers to try to 
find solutions. 
History has taught us that 
inflation and recessions happen 
in cycles, and that is why HFL 
is ready right now 
(and throughout 
this recession) to 
help Michigan’s 
Jewish community 
members with our 
interest-free loans. 
If you know a 
Jewish resident in 
Michigan who is 
ready to partner with us and 
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.

David 
Contorer

guest column

Hebrew Free Loan: 
Ready to Help as 
Recession Looms

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www.hfldetroit.org • 248.723.8184

Hebrew Free Loan Detroit

6735 TELEGRAPH ROAD, SUITE 300 • BLOOMFIELD HILLS, MICHIGAN 48301

@HFLDetroit

Community donations help Hebrew Free Loan give 
interest-free loans to local Jews for a variety of personal, 
health, educational and small business needs.

Hebrew Free Loan’s Building My 

Tomorrow loan fund was established through 
the generosity of grants from the Jewish 
Women’
s Foundation. The fund assists 
Jewish women in Michigan who have few 
resources, less established credit or limited 
family support. With loans up to a maximum of 
$10,000, the fund may help in cases such as: 

• A 32-year-old mother who needed 
help with legal fees in her divorce and custody 
case against her abusive husband. 
• A 66-year old widow whose husband 
managed all the bills and finances during 
their marriage, until his final illness. She 
needed funds to help keep her home while 
she settled the estate. 
• A 43-year-old woman whose mother 
was in hospice. She requested assistance 
to help cover funeral expenses.

LEARN MORE, AND APPLY HERE: 
application.hfldetroit.org/

in partnership with

