Hebrew Free Loan of Austin Celebrates Nine Years of Loan Funding

Community News, The Jewish Outlook

Nov 23, 2020

HFLA’s board members work together on Zoom. Top row: Marvin Schrager, Debbie Cohen, Vicki Osherow, Phil Marks. Second row: Barbara Cramer, Tracy Solomon, Dana Baruch, Aaron Sansom. Third row: Ed Hockfield, Adam Grossman, Diana Resnik, Pam Daily. Bottom row: Stephen Feinstein. Not pictured: Scott Miller. Screen shot courtesy of HFLA and Zoom.

By Debbie Cohen

Hebrew Free Loan of Austin recently completed its ninth year of providing financial support to the greater Austin Jewish community through interest-free loans. These loans empower individuals to become economically self-sufficient and financially secure by alleviating cash flow issues.

Since opening its doors Nov. 11, 2011, HFLA has provided 150 loans, totaling more than $600,000. The foundation and inspiration for the work of HFLA is rooted in the Torah. In Parashat Mishpatim, God tells Moses and the people of Israel that they may not derive personal benefit from loans made to members of their community. In other words, they may not charge interest.

The Easiest Loan You’ve Ever Applied For

Many within the greater Jewish community are struggling with the unfortunate financial burdens that have accompanied the current pandemic. Life can and has thrown unexpected challenges everyone’s way, and sometimes there is only a financial solution. Hebrew Free Loan of Austin is here to help and stands ready to provide interest-free loans to Jewish borrowers in the greater Austin area.

HFLA is currently accepting personal loan applications for up to $5,000 with one guarantor for those in the community impacted by the effects of COVID-19. Additionally, loans are provided for education, fertility, business or general financial need, providing financial accessibility and stability to recipients. The loan approval process is expeditious and confidential. HFLA’s volunteer board members promise to make this process quick and easy. HFLA can typically get checks into people’s hands within two to three days upon receiving the necessary information from applicants.

HFLA encourages those with credit card debt, b’nai mitzvah expenses, medical bills, home closing or repair costs, or other cash flow needs to reach out to the organization.

The Gift that Keeps on Giving

Donations to HFLA provide continual positive impact on the community. Loans are based on a recycling model where loan re-payments are put back to work funding new loans over and over again.

HFLA enables Austin Jews to help other Austin Jews. A donation to HFLA lifts fellow Jews in the greater Austin community out of a financial bind and continually provides support through the recycling model of donations. Please consider becoming part of this highly impactful effort by making a year-end, tax-deductible contribution to HFLA in support of the Jewish community of greater Austin. ■

In this new environment, the need for social distancing is particularly challenging for the Jewish community. HFLA is committed to strengthening kehilla, the community, and providing a hand up to those who need support in every way possible.

Please visit hebrewfreeloanofaustin.org for more information or contact info@hfla.org with questions.

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