Hebrew Free Loan Association (U.S.)

Non-profit loan association established in 1904 in Cleveland, Ohio. It was originally founded to aid needy Jewish immigrants but later expanded its service to anyone who could show real need. For a brief history of the association, see the register to MS 3640 Hebrew Free Loan Association Records.

Non-profit loan association established in 1904, in Cleveland, Ohio. It was originally founded to aid needy Jewish immigrants but later expanded its service to any borrower who could show real need.

The Hebrew Free Loan Association was organized in Cleveland, Ohio, in 1903 when two prominent Clevelanders, Charles Ettinger and Maurice Black, each contributed two hundred dollars to a fund to aid needy Jewish immigrants from Russia and Poland. Others subsequently contributed to the fund so that on the sixth day of September, 1904, the Gmilus Chassodim Society, or Hebrew Free Loan Association, was established. Although founded to assist Jewish immigrants, the Association is non-sectarian, requiring only that the borrower prove real need. The Association has believed "that the best method to relieve temporary distress among the poor is not to give them alms, but instead to give them loans of money so that they remain self-supporting and retain their self-respect."

Unlike commercial banks and finance companies, the Hebrew Free Loan Association is non-profit. A self-sustaining organization, it operates from membership dues and makes many types of loans, including moral-risk loans and emergency loans.

Over the years, recipients of the loans have varied. Although founded as an immigrant aid society, the Association established itself as a general relief agency by aiding the needy throughout the years of the Great Depression. In 1945 its reputation continued to grow as the Association responded to the needs of returning World War II soldiers by offering them loans to start businesses, pursue careers, or purchase homes.

click here to view the Encyclopedia of Cleveland History entry for the Hebrew Free Loan Association

The Hebrew Free Loan Association was organized in Cleveland, Ohio, in 1903 when two prominent Clevelanders, Charles Ettinger and Maurice Black, each contributed two hundred dollars to a fund to aid needy Jewish immigrants from Russia and Poland. Others subsequently contributed to the fund so that on the sixth day of September, 1904, the Gmilus Chassodim Society, or Hebrew Free Loan Association, was established. Although founded to assist Jewish immigrants, the Association is non-sectarian, requiring only that the borrower prove real need. The Association has believed "that the best method to relieve temporary distress among the poor is not to give them alms, but instead to give them loans of money so that they remain self-supporting and retain their self-respect."

Unlike commercial banks and finance companies, the Hebrew Free Loan Association is non-profit. A self-sustaining organization, it operates from membership dues and makes many types of loans, including moral-risk loans and emergency loans.

Over the years, recipients of the loans have varied. Although founded as an immigrant aid society, the Association established itself as a general relief agency by aiding the needy throughout the years of the Great Depression. In 1945 its reputation continued to grow as the Association responded to the needs of returning World War II soldiers by offering them loans to start businesses, pursue careers, or purchase homes.

Click here to view the Encyclopedia of Cleveland History entry for the Hebrew Free Loan Association

The Hebrew Free Loan Association was organized in Cleveland, Ohio, in 1903 when two prominent Clevelanders, Charles Ettinger and Maurice Black, each contributed two hundred dollars to a fund to aid needy Jewish immigrants from Russia and Poland. Others subsequently contributed to the fund so that on the sixth day of September, 1904, the Gmilus Chassodim Society, or Hebrew Free Loan Association, was established. Although founded to assist Jewish immigrants, the Association is non-sectarian, requiring only that the borrower prove real need. The Association has believed "that the best method to relieve temporary distress among the poor is not to give them alms, but instead to give them loans of money so that they remain self-supporting and retain their self-respect." Unlike commercial banks and finance companies, the Hebrew Free Loan Association is non-profit. A self-sustaining organization, it operates from membership dues and makes many types of loans, including moral-risk loans and emergency loans. Over the years, recipients of the loans have varied. Although founded as an immigrant aid society, the Association established itself as a general relief agency by aiding the needy throughout the years of the Great Depression. In 1945 its reputation continued to grow as the Association responded to the needs of returning World War II soldiers by offering them loans to start businesses, pursue careers, or purchase homes.

click here to view the Encyclopedia of Cleveland History entry for the Hebrew Free Loan Association click here to view the Encyclopedia of Cleveland History entry for Morris Black