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