Jewish Interest-Free Loans of Atlanta (JIFLA) is offering small, easily accessible loans to people ages 20 to 40, Executive Director Nancy Weissmann told eJewishPhilanthropy.
JIFLA launched the program because it was concerned that young people didn’t even know it existed, and created a young professionals committee to create and publicize it. The loans are for a maximum of $3,000, compared with $10,000 for a typical loan, and require less paperwork to obtain. In mid-December, the committee will hold a financial literacy event in a local brewery to start spreading the world.
“Last year we loaned out $230,000,” Weissmann said. “If more people knew about us, it would be $400,000, or even more.”