Hebrew Free Loan Society of New York
Formation1892
HeadquartersNew York City, United States
Region
New York City
Key people
Ian Shrank (Board Chair) Rabbi David Rosenn (President & CEO)
Websitehttps://hfls.org/

The Hebrew Free Loan Society of New York, founded in 1892, is the oldest money gemach in the United States. It spawned similarly named free-loan funds in many other cities, including Washington, D.C.; Philadelphia, Pennsylvania; and Holyoke, Massachusetts.

Using money provided by contributions, the society provides small, interest-free loans which are paid back in weekly installments. Today, the society provides more than $10 million in interest-free loans on an annual basis while maintaining a loss rate lower than one percent.

See also


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.