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A few weeks ago, Jews across the world chanted Parshat Mishpatim, which describes many laws of behavior toward others. In this parsha, we are taught about the mitzvah of helping our fellow Jews by lending money without charging interest; “If you lend money to your fellow, do not act like a creditor; do not exact interest from him” (Exodus 22:25) Hebrew Free Loan of San Diego is based on, and inspired by, this biblical mandate, to help members of our local Jewish community become, and remain, self-sufficient.
As we celebrate our first year of fulfilling this mitzvah, it is remarkable to listen to our loan recipients share their stories of how HFLSD is empowering them to overcome whatever obstacles they are facing and strive for better situations. As Beth shares, “I am relieved that there is an organization like HFLSD that can help community members in need during difficult times. When I lost my job, I was extremely worried about what would happen. Working with HFLSD and being able to remove my credit card payments on a monthly basis, while receiving extra each month for living expenses allows me to focus on my job search and not feel strangled by my monthly expenses. I look forward to paying this loan back as quickly as possible so I can pay it forward and watch the money help someone else in our community.”
I am always amazed by the strength and drive that our loan recipients display through every conversation I have with them, and the gratitude for the work we are doing.
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But really, what I want to share is how much we accomplished this first year, and those numbers are impressive!
We are creating a stronghold in the San Diego community for generations to come. As one of our guarantors shared, “I was delighted when my niece asked me to serve as a guarantor on her loan application to Hebrew Free Loan of San Diego. Not only did I admire her drive to fund as much of her own graduate school education as possible, but I loved letting her know that her turning to HFLSD for help completed a four-generation circle in our family, for sixty years ago my father’s uncle helped endow a similar Jewish free loan fund in Long Beach, California.” I cannot wait until we have that kind of history in the San Diego Jewish community! With gratitude for this past year and excitement for what is to come! |
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Mindi Frankel, Executive Director |
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It may come as a surprise to some, but there is a high prevalence of financial hardship in the San Diego Jewish community. A community study completed in March 2020 indicated that about 20% of the approximately 50,000 Jewish households in San Diego County either live in or on the edge of poverty. This study identified the need for poverty prevention programs focused on the Jewish community of San Diego, and it became one of my missions to help create organizations that address this need.
Hebrew Free Loan of San Diego (HFLSD) was created to aid and empower members of the San Diego Jewish community to help themselves by accessing interest-free loans to meet financial challenges or take advantage of opportunities when they lack access to traditional lending sources. As President, my goal was to create a strong board of directors and hire an Executive Director that would establish a foothold in the San Diego community.
With the appointment of Mindi Frankel as Executive Director, and an incredible Board of Directors, HFLSD has blossomed into a cornerstone of our community’s commitment to improve lives by providing a “hand-up” to those in need. Most importantly this assistance is provided in accordance with core Jewish values of dignity, respect, compassion and confidentiality. I am grateful to work with a dedicated and compassionate group that believe in this mission as much as I do.
In our first year we raised over $800,000 from generous donors and built a sustainable system and process for making and tracking loans. We have little overhead expenses with all efforts going towards making loans. More importantly, we entered 2022 with a strong loan pipeline, increasing community awareness of our services, and wonderfully happy borrowers. We have never had a loan delinquency and work to ensure that loan principal repayments are not too burdensome for borrowers.
I am proud to serve as the President of the Board for HFLSD and partner with Mindi in addressing the needs of our borrowers and striving to create a cohesive, caring, and meaningful impact on our community.
Selwyn Isakow, HFLSD Board President
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