INTEREST-FREE LOAN PROGRAM

Milwaukee Jewish Free Loan Association (MJFLA) is a local, community supported, 501(c)3 nonprofit revolving loan fund, and has been an accredited member of the International Association of Jewish Free Loans (IAJFL) since 2009. MJFLA provides no-cost, interest-free loans to people of all faiths who are residents of the Greater Milwaukee area. As loans are repaid, the funds are recycled again and again to help others in the community.

• Interest-free loans up to $3,600 to help with any necessary purpose, including rent/mortgage, utilities, car repair, debt relief, medical/ dental bills, daycare/preschool, etc. Up to $5,000 per year for college tuition, continuing education, or trade school. Up to $10,000 for adoption/fertility/surrogacy for growing families.

• Repayment period and monthly payment amount are based on ability to repay.

• Steady income is required, including ability to begin repayment approximately 30 days after receiving the loan.

• Minimum of one guarantor required. Guarantors must be Wisconsin residents with income from employment, have a good credit history, and be willing and able to repay the loan if necessary. Some loans may require two guarantors.

PROGRAMA DE PRÉSTAMOS SIN INTERESES

La Asociación Judía de Préstamos Gratuitos de Milwaukee (MJFLA) es un fondo de préstamos rotatorios sin fines de lucro 501 (c) 3 local, apoyado por la comunidad, y ha sido un miembro acreditado de la Asociación Internacional de Préstamos Libres Judíos (IAJFL) desde 2009. MJFLA ofrece servicios sin costo , préstamos sin intereses para personas de todas las religiones que residen en el área metropolitana de Milwaukee. A medida que se pagan los préstamos, los fondos se reciclan una y otra vez para ayudar a otros en la comunidad.

• Préstamos sin intereses de hasta $ 3,600 para ayudar con cualquier propósito necesario, incluido el alquiler / hipoteca, servicios públicos, reparación de automóviles, alivio de deudas, facturas médicas / dentales, guardería / preescolar, etc. Hasta $ 5,000 por año para matrícula universitaria, educación continua , o escuela de oficios. Hasta $ 10,000 para adopción / fertilidad / subrogación para familias en crecimiento.

• El período de reembolso y el monto del pago mensual se basan en la capacidad de reembolso.

• Se requieren ingresos constantes, incluida la capacidad de comenzar a pagar aproximadamente 30 días después de recibir el préstamo.

• Se requiere un mínimo de un garante. Los garantes deben ser residentes de Wisconsin con ingresos laborales, tener un buen historial crediticio y estar dispuestos y ser capaces de reembolsar el préstamo si es necesario. Algunos préstamos pueden requerir dos garantes.

Contact - Información del Contacto

The coronavirus, also known as COVID-19, is impacting households, communities, and businesses. In a recent survey, 9 out of 10 Americans say that the pandemic is causing them financial stress, with half reporting that they are worried about paying their bills. The frequently asked questions in the link highlight some common financial challenges as a result of the COVID-19 pandemic. The answer to each question has links to government websites and the types of assistance that might be available. We will keep updating this information as new policies and resources are put into place.

Concerned about your finances, but not sure where to start? We invite you to get in touch with one of our UW-Madison Division of Extension financial educators. Our financial educators can help walk through ideas and options to create a budget, keep up with bills, pay down debt, plan for big expenses, and other personal finances topics — totally free of charge.