For Fundholders looking to maximize their local community impact, JCF now offers the opportunity to help lower-income borrowers get back on their feet financially or invest in a brighter future. The JCF Social Impact Loan Program, an innovative partnership with Hebrew Free Loan Society, allows current and prospective JCF Fundholders with accounts of $100,000 or more to recommend that a portion of charitable assets go to interest-free loans to lower-income New Yorkers.
How It Works:
- JCF Fundholders who choose to participate in the Social Impact Loan Program recommend that assets from their fund support HFLS’s interest-free loans for two years.
- When the two-year term is up, 100% of the loan amount will be returned to the Fundholder’s account to be granted out to charity or reinvested.
Fundholders will not be charged administrative fees on funds lent to HFLS during the two years these funds are being used for interest-free loans. While there is no financial return on this investment, the social impact of these loans is considerable.
HFLS’s loans make it possible for thousands of borrowers to invest in their family’s future or successfully manage the ups and downs of their financial lives without having to rely on risky and expensive loans or credit cards. JCF continues to work to expand our offerings and provide innovative ways for our fundholders to maximize their philanthropic impact – and the Social Impact Loan Program applies 21st-century strategies for impact investing to HFLS’s proven model.