Jewish Free Loan Association
ORGANIZATION DESCRIPTION
Founded in 1904, Jewish Free Loan Association (JFLA) provides interest-free, no-fee loans to individuals and families from Jewish and other communities in Los Angeles, serving as a lifeline for emergencies, health care, education, safety from domestic violence, developing small businesses, and life cycle events. Its model, which relies on the personal promise of a guarantor to vouch for the borrower, has a 99% repayment rate. Rooted in Jewish values, it is committed to ensuring that Angelenos have basic needs such as housing security, access to college, and small business aid. It directs 70% of its education loans to Jewish clients and assists the Jewish community with loans for summer camp, Israel experiences, B’nai mitzvahs, weddings, and funerals. Since September 2020, it has provided Jewish clients with 754 loans totaling $6 million. As LA’s largest interest-free lending organization, JFLA currently has 2,753 active loans totaling $16 million and serves an average of 1,000 unique clients annually.
FIELD OF INTEREST
grant programs
To upgrade outdated loan management technology, enabling JFLA to streamline internal processes, provide higher quality services to clients, and increase the number of loans it makes.
Due to the pandemic, JFLA has been receiving a significantly higher number of applications for interest-free loans, which average $20,000, for struggling businesses and for launching new enterprises. This grant will help grow the loan fund and allow JFLA to continue making loans without reducing the amounts or turning applicants away.
To support emergency relief loan funds in response to COVID-19.
The Nursing Student Loan Fund is an interest-free loan fund that has expanded from one specifically focused on increasing the available pool of nurses at the Los Angeles Jewish Home to one that supports an array of nursing programs.