What is a Hebrew Free Loan Society?
Hebrew Free Loan Societies are based on the Biblical mandate “If you lend money to My people, to the poor among you, do not act towards them as a creditor; exact no interest from them.” (Exodus 22:24) Jewish communities throughout history have maintained these organizations. Today, dozens of Hebrew Free Loans exist throughout the world. The Hebrew Free Loan Society of Greater Philadelphia has provided interest-free loans to the local Jewish community since our founding in 1984. During that time, we’ve granted over 1,500 loans totaling more than $2,000,000. We are funded entirely by donations, and we recycle money from one borrower to the next as our loans are repaid. How do we help? We make loans of up to $5,000 to borrowers with credit-worthy co-signers. Borrowers must be Jewish or have a strong link to the Jewish community, such as caring for a Jewish senior or working for a Jewish communal organization. Borrowers also must live in the Greater Philadelphia area (the Pennsylvania coun
