Jewish Georgians facing a crisis have a place to turn to for financial support in their own community: the Jewish Interest-Free Loan Association (JIFLA).
Federation and the Atlanta Jewish Foundation are proud to partner with JIFLA, where Donor-Advised Fund fund-holders can become anonymous guarantors for loans and help the organization stretch their dollars 4:1, meaning that for every $10,000 guaranteed, JIFLA can give out loans for $40,000.
The funds stay in the Donor-Advised Funds, and thanks to JIFLA’s repayment rate of over 99%, there is minimal risk of default. Whether it is medical bills, job loss, emergency home repairs, or other major life expenses, JIFLA offers comprehensive financial support, financial education, and budget counseling, bringing peace of mind, opportunity, and hope to those in need.
“We were in a very vulnerable moment in our lives and did not know who to turn to. When you feel alone in the world financially when you are struggling, things go through your head that probably shouldn’t,” said a recent loan recipient. “To be given a chance and being heard and not being charged astronomical fees is huge. We can never thank JIFLA enough for the mitzvah you are granting by putting your money somewhere that helps everyday people feel like they have a chance at living again and some breathing room.”
Another recent JIFLA borrower was a single woman in our community who faced significant health challenges. She shared her story with Federation: “I got cancer, had a year of surgeries and treatment, and just as I was ready to go back full-time, the company I worked for lost their biggest client, and I was out of work and lost my health insurance. I was completely at a loss, with no money and little hope. I was close to being on the street. I cannot tell you how grateful I am and how much all you do makes a difference.”
“With the support of our amazing partners at the Jewish Federation of Greater Atlanta, these [counseling and advisory] sessions are free for those interested and are designed to help anyone reach their financial goals,” said Nancy Weissmann, JIFLA’s Executive Director. “We continue to be committed to the health and prosperity of Jewish Atlantans and will always look for new ways to best help our community and support financial stability for all.”
JIFLA is looking for donors and hopes to start an endowment fund soon. These donations are making a huge impact on our community. If interested, head to their website here.
