Jewish Free Loan Who Is the Hero? The Loan Guarantor Who Helps Change Lives

Jewish Free Loan Association (JFLA) is a nonprofit organization offering 0% interest loans regardless of religion, gender, or race. Our mission is based on the Torah mandate to provide interest-free loans to people who need assistance. Since 1904 JFLA has provided a helping hand instead of a handout to hundreds of thousands of people through interest-free loans for emergencies, education, developing small businesses, healthcare and milestone events.

JFLA has recently expanded its service area to include Santa Barbara County, offering 0% interest, no fee personal/ emergency loans to those who need assistance. Loans can be used for rent, medical or dental bills, car repair, childcare, remote learning expenses and more. Borrow up to $3,000 with just two references. Loans for up to $10,000 are available with guarantors. Visit jfla.org/ santa-barbara to learn more.

Jewish Free Loan Association

6505 Wilshire Boulevard, Suite 715 Los Angeles, CA 90048 jfla.org 323.761.8830

Marquan and Mr. Danny Farrell at Marquan’s high school graduation

A STRAIGHT UP FACT ABOUT INTEREST-FREE LENDING: GUARANTORS ARE OUR HEROES

INTEREST-FREE LOANS CHANGE LIVES AND OFFER HOPE

during times of devastating financial uncertainty.

Unlike the vast majority of lending options available, interest-free loans are not highinterest, nor predatory. These loans are affordable, and are not a burden that propel people into further financial despair.

You are probably wondering how this is possible. Allow me to introduce our heroes:

For every interest-free loan made, one or two guarantors are required. Anyone can volunteer; if you are a citizen of the United States and over the age of 25 you can qualify. A guarantor can be a friend, neighbor, relative or co-worker. Really, anyone in the client’s life who can be a guarantor.

Marquan was just five years old when his mother passed away. With no family to take him in, he entered the foster care system, and bounced from family to family. Like so many other foster kids, Marquan grew into a disenchanted teenager who was failing out of school. However, Marquan had a secret weapon: his high school English teacher, Mr. Farrell, who did not believe in failure. He saw something special in Marquan and took him under his wing. With Mr. Farrell’s guidance, Marquan graduated high school with honors. However, even with Mr. Farrell’s help, the road ahead was rocky for Marquan. After aging out of the foster care system, Marquan found himself unable to pay for housing. He was sleeping in his girlfriend’s car. He was homeless and he was miserable.

Mr. Farrell, always there for Marquan, encouraged him to apply for an interest-free loan so he could get the money he needed to improve his situation. Because Mr. Farrell volunteered to sign as his guarantor, Marquan received the loan and was able to pay for first and last month’s rent on an apartment. He was no longer homeless.

This lending system has been operating successfully with a 99% repayment rate for 117 years. The secret to success is hardly a secret at all. It is the people who volunteer to serve as guarantors. Marquan was able to borrow $5,000 because Mr. Farrell believed in him, and signed on to guarantee his loan. Because the guarantor is someone the client has a relationship with, the client is motivated to repay, so that guarantor does not need to undertake the repayment of the loan. The relationship between the client and the guarantor is the key to the successful repayment rate.

For those without good credit, without access to bank loans, and for those without a strong social support system, interest-free loans are critical. These loans prevent people from spiraling further into high-interest debt and into even worse financial circumstances. Once people enter into the precarious world of high-interest loans, or worse, predatory loans, it is often impossible to regain their footing.

Since the pandemic turned the world upside down, JFLA has been helping people with basic living expenses: food, medication, rent, medical expenses, and more. Marquan’s story is one of thousands about clients of JFLA whose life has changed for the better because someone simply had their back in hard times. JFLA is the organization, but those who volunteer to serve as guarantors are the real heroes.

If you or someone you know is in need please turn to JFLA for a 0% interest, no fee loan. You can count on us. If you are able, please consider acting as a guarantor for a friend or family member in need. THIS

LENDING

SYSTEM

HAS BEEN

OPERATING

SUCCESSFULLY

WITH A 99%

REPAYMENT

RATE FOR

117 YEARS.