St. Louis Jewish Loan Association - General Needs Loan

St. Louis Jewish Loan Association - General Needs Loan

Status: Active, restarted October 2021

Geographic Scope: St. Louis Jewish community

Program Type: Interest-free loan program

History:
Originally established in 1912 to help Jewish community members unable to borrow from banks. Became part of Jewish Federation in 1942. Relaunched in 2021 after pandemic provided opportunity to re-envision the program.

Loan Purpose:
General Needs Loan can include but not be limited to:

Medical and dental expenses

Mortgage or rent payments

Home repairs

Legal fees

Funeral expenses

Vehicle purchases and repairs

Taxes

Education

Jewish life cycle celebrations

Jewish summer camp

General living expenses

Credit card debt

Adoption

Small business loans

Loan Terms:

Up to $5,000

Payable over 36 months

Interest-free

Guided by Jewish values from Torah and teachings of Maimonides

Eligibility Requirements:

Must demonstrate ability to repay the loan

Must provide one guarantor as part of application

Program Structure:
Three-year pilot project anticipated to evolve based on collected data about unmet needs of borrowers. Funds are recycled as borrowers repay loans, making funds available again to new borrowers.

Contact:
St. Louis Jewish Loan Association
314-442-3755
jewishloan@jfedstl.org

Director:
Lori Kabrun-Berry, Director of Foundations (supervises the loan program)

Staff:
Jennifer McGroty, Part-time staff managing day-to-day operations