Financial Services

The Jewish Family Service Financial Resource Center (JFSFRC) offers interest-free loans to Jewish individuals and families whose needs are urgent and who may not qualify through traditional financial resources.

JFSFRC loan programs change lives, working to promote self-sufficiency with dignity. Loan amounts range from $1,000 – $5,000 per household.  To be eligible to apply for an interest-free loan, applicants must be Jewish, 25 or over, with a history of financial independence.  Applicants must be residents of Greater New Orleans for at least 1 year prior to application.  Net assets not to exceed $50,000 exclusive of primary residence and primary vehicles. All loans need co-signers.

Loan repayment begins 90 days after distribution of funds.  Repayment period is not to exceed 5 years from date of loan, and payments are to be made by automatic bank withdrawal.

In 2006, JFS established a new program called the Financial Recovery Center.  This program was developed to help individuals rebuild homes and businesses devastated by Hurricane Katrina and the subsequent levee breaches, and to offer financial incentives for newcomers who are committed to the rebuilding of our community. This program has evolved into the Financial Resource Center, which consists of interest-free loans, financial assistance grants and case management services.

LOANS AVAILABLE FOR
Emergency Financial Assistance: Assists normally self-supporting individuals with money for rent, moving expenses, security deposit, car repair or used car purchase, and medical and dental emergencies.

Educational Loans: Loans for technical or vocational training, including re-education.  Available to individuals pursuing an advanced degree in the field of social services or education.

Business Loans: Available to business owners looking to expand as well as start up businesses.

Adoption/Fertility Treatment Loans: A program to help with the costs associated with the adoption process or medical treatments.