Now is the time to provide a small miracle!
IFLA’s Named Loan Funds enable you to establish an interest-free loan fund in honor or memory of a loved one. Money from your fund is immediately loaned out and launched into a cycle which will assist borrower after borrower- a small business or a family in need, to start over to be saved from financial distress. Establish a named loan fund to celebrate a special occasion, on your own or with friends, through accumulated donations or a single donation.
The beauty of an interest-free loan fund is that it’s a renewable resource. While traditional charitable donations get used up, and their influence may be reduced over time, with an interest-free loan fund, every loan repayment back to the fund is then loaned out again to another borrower awaiting a loan. Borrowers include people experiencing financial hardship, people requiring coverage of an unexpected expense, small business owners trying to survive, new immigrants, students, and others.
You can help others to help themselves through your support to IFLA. Contact IFLA at telephone +972 2530 0787 or by email at Development@FreeLoan.org.il, or make a donation by check, bank transfer, or credit card as detailed here.
named loan fund stories
On their 40th wedding anniversary, Steven and Faith Cohen’s children, along with friends and family, established a named loan fund in their parents’ honor. Over the years, the fund continued to grow, thanks to additional contributions the family continues to make in celebration of special family occasions. Today, the fund is worth 180,000 ILS, and thanks to the cyclical model of our loan funds, the fund has been recycled over three times to provide over 616,000 ILS over 77 loans.
Eighteen years ago, Shirley and Naftali Solvy decided to adopt Shai, a baby with Cerebral Palsy who was abandoned at the hospital and in need of a warm home. Over the years, the Solvys applied for three interest-free loans at IFLA to help finance the surgeries and equipment needed for Shai. Shai has made tremendous progress and today is a volunteer in the Israel Defense Forces. His family decided to help others experiencing tough financial times and are now working toward the establishment of their own named loan fund through accumulated donations. This is their way of thanking those who helped them in the past and of celebrating the miracle of Shai’s story.