Federation's Hebrew Interest-free Loan Program

Tagline: No cost, no interest…changing lives one loan at a time!

Geographic Scope: Central New York

Historical Background

Based on a program established in the late 19th century when members of small Jewish communities developed plans to help newly arrived Jews build new lives. Guided by the interest-free lending mandate in the Torah, these Hebrew Free Loan programs provided financial assistance to waves of Jewish immigrants and refugees. The Federation continues this tradition today.

Award Amount

• Zero interest personal loans
• Up to $7,500 maximum

Eligible Uses

• Medical and dental bills
• Debt consolidation
• Small business loans
• Lifecycle events
• Family emergencies
• Car and home repair
• Camp fees
• School tuition and fees
• Adoption and fertility services
• Other temporary financial assistance needs

Eligibility

• Any Jewish person from Central New York
• Must be in need of temporary financial assistance

Loan Terms

• Interest rate: 0% (zero interest)
• Payment schedule: Monthly payments begin one month after loan funds are disbursed
• Terms: Determined by Loan Committee in consultation with borrower
• Confidentiality: All information kept in strictest confidence
• Recycling: As loans are repaid, funds are recycled to make new loans

Contact

• CFO Terry St. Amour
• Email: tstamour@jewishfederationcny.org
• Address: 5655 Thompson Road, DeWitt, NY 13214-1234
• Phone: 315-445-0161

Application Process

1. Contact Federation CFO Terry St. Amour for more information
2. Complete application materials:
   • Loan Form Packet
   • Applicant Checklist
   • Promissory Note
3. If applicable, obtain Cosigner Repayment Form
4. Submit to Loan Committee for review
5. Loan Committee meets with applicant to determine terms and payment schedule

Required Materials

• Completed Loan Form Packet
• Applicant Checklist
• Promissory Note
• Cosigner Repayment Form (if applicable)