New President of Jewish Free Loan Association

Aaron Bloom has been elected President of the Board of Directors of the Jewish Free Loan Association (JFLA). JFLA is a nonprofit micro-lending agency that offers interest-free loans to people of all faiths who are facing financial challenges.

Many non-profits that help the underprivileged, including Kars For Kids and Camp Oorah are seeing growth due to the economic downturn. In 2012, JFLA was responsible for more than $11 million in interest-free loans. Education is one of the agency’s leading areas of lending, along with emergency, healthcare, resettlement, micro-enterprise, life cycle and “green” loans.

 “The prolonged economic downturn has increased the need for the Jewish Free Loan Association and its critical work. JFLA provides a financial lifeline to those in need who could easily fall through the cracks, and the breadth of JFLA’s loan programs is astounding. JFLA has programs ranging from those in need of emergency dental care and truck repairs to student loans and small business loans,” said Bloom.

“As a donor to many charities, nothing takes priority over helping people,” said Ron Hershco, a philanthropist.

JFLA’s high repayment rate allows the agency to recycle loans for generations and perpetuate funding. Providing an alternative to charity and conventional bank loans,

Filed Under: BusinessJewish business News

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