There was a need in the community to support people that required financial assistance.
There was a need in the community to support people that required financial assistance.
Murf Handmaker, Leo Rackoff and Joe Fishman came together to form the organization. They modeled the organization after other successful Free Loan Associations that were functioning across the country. The Free Loan Associations were based on the directive in the Torah calling for acts of loving kindness or "Chevre Gemilut Chassodim". There are several relevant Torah verses but one in particular Exodus 22:24 suggests that when loaning money to those in need, that we should not "exact interest".
Since 1947, The Free Loan has been lending a hand, not a handout, to those in need, helping people remain self-sufficient and maintain dignity by providing interest-free financial assistance.
In 2021, The Free Loan moved to the Community Foundation of Southern Arizona non-profit campus where we enjoy a collaborative community of local non-profits sharing resources and ideas.
