By Mindi Frankel
SAN DIEGO — The first half of 2024 has been a whirlwind for Hebrew Free Loan of San Diego (HFLSD)! We’ve continued to witness a growing demand for our wide variety of interest-free loans, which help individuals and families across the San Diego Jewish community achieve financial stability. HFLSD sees the need continuing to grow, especially based on this recent article, citing that “nearly 20% of Jewish households struggle to make ends meet.”
HFLSD is exceptionally busy, meeting the demands of students that are trying to finance their post high school education. Education loans remain a significant portion of our portfolio and we are proud to support the next generation’s academic pursuits and believe these loans contribute to a stronger, more engaged Jewish community in San Diego.
As we enter the second half of the year, I’m excited to shine a spotlight on a program that’s fueling the entrepreneurial spirit within our community: Hebrew Free Loan of San Diego’s Small Business Loan program.
Many in our community dream of starting or expanding their businesses. These aspirations are often hindered by the initial financial hurdles of equipment purchases, inventory needs, or marketing initiatives. Here at HFLSD, we understand these challenges. That’s where our Small Business Loan program comes in. Unlike traditional loans, we offer interest-free and fee-free financing, allowing entrepreneurs to invest directly in their dreams without the burden of accumulating debt. This not only empowers individuals but also fosters economic growth and job creation within San Diego’s Jewish community.
Recently, we’ve seen a surge in applications from passionate individuals with diverse business ideas. From an Amazon based business owner seeking to expand their offerings to a talented artist running her own retail store to an incredible food truck– HFLSD is proud to be a part of their journeys. Every loan recipient has a unique story. One recent small business loan recipient, shares that “his loan has been absolutely pivotal in allowing [him] to refocus on the business and take it to the next level.”
By providing these interest-free loans, we remove a significant financial barrier, fostering local entrepreneurs as they focus on their vision, encouraging students to continue their educational pursuits, and helping any community member in financial stress build a brighter future for themselves and their families.
If you, or someone you know, harbors an entrepreneurial or educational dream, or is struggling financially, I encourage you to explore and share the entire HFLSD loan portfolio. Visit our website at www.hflsd.org or call us at 858-345-8018 to learn more. Together, let’s nurture the spirit of innovation and learning and empower San Diego’s Jewish community.
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Mindi Frankel is the executive director of Hebrew Free Loan of San Diego.