The following is a reprint of an article that was published in the September 18, 2024 issue of the Jewish Community Voice, titled, "Interest-free loans available for local residents":
For qualifying Jewish individuals and families residing in Burlington, Camden, or Gloucester counties who could benefit from financial support, the Jewish Community Foundation, Inc. offers interest-free loans. Participants can receive up to $2,500 per loan. They can be used to bridge costs for emergency medical expenses and housing needs, starting or expanding a small business, purchasing an automobile if required for employment or training, or obtaining academic, vocational, or professional training.
Loan recipients have up to three years to repay the loan based on a monthly schedule, with no interest applied. Applicants will be required to have two cosigners for each loan.
This loan program was created in 1990 by donor Fred Siris, who established an endowment fund with the Jewish Community Foundation, Inc., and he named the fund in memory of his parents, Samuel Aaron and Rose Siris. A passage in the Book of Exodus (22:24), helped inspire the concept of interest-free loans, stating: “When you lend money to My people, to the poor person [who is] with you, you shall not behave toward him as a lender; you shall not impose interest upon him.”
To learn more or to begin the intake process, please contact the JCF’s partner agency, Jewish Family & Children’s Service at (856) 424-1333, or visit the JCF’s website at www.jcfsnj.org/siris-loans for full details.
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