What is IFLA?
The Israel Free Loan Association (IFLA) is the largest Jewish interest free loan organization in the world. Since its inception in 1990, IFLA has lent out over $270 million (US) by providing over 60,000 interest-free loans. Currently IFLA lends out over $20 million every year to Israelis. Thanks to proper loan management, we have an average repayment rate of over 99% throughout IFLA’s history.
IFLA loans help many sectors of Israeli society in numerous ways. They enable Israelis without sufficient means to open small businesses or expand existing ones, help Ethiopian immigrants move out of temporary housing, facilitate student loans to obtain academic degrees, allow ailing Israelis to purchase vital equipment and medicines or undergo operations, assist struggling Israelis get back on their financial feet, and much more.
Helping People Help Themselves
Conventional charity can often hurt recipients by making them dependent and lowering their esteem. Interest-free loans help without hurting by enabling people to empower themselves as the loans they receive will eventually return. As the great Jewish sage Maimonides wrote – a loan is better than charity as it enables people to help themselves.
A Renewable Financial Resource
At the Israel Free Loan Association we believe that just as many of today’s resources are renewable in the environment, so too can money be recycled. While in conventional charity the money is depleted once allocated, with interest-free loans the source funds are preserved. The helping value of interest-free loans increases with time. As when loans are repaid, they are re-lent.
Founded in 1990 with an initial donation of $20,000, our current fund base of over $50 million has been lent out several times over and continues to be recycled. With this success, however, there are still many more Israelis in need of the assistance we provide. Today we are reaching only a small amount of the 282,000 working families facing financial hardship, and additional support will enable us to reach further and help more people.
A Gift that Keeps Growing
The Israel Free Loan Association is empowering, renewable, and sustainable. A gift to IFLA is one that perpetually grows, helping more and more people as time goes on. We invite you to become a part of this perpetual resource for those in need. contact us at Development@FreeLoan.org.il to support us, or click here to learn more about how to support us.