Hebrew Free Loan of Austin Celebrates 13 Years of Impactful Giving
By Debbie Cohen | November 2024
On November 13, 2024, Hebrew Free Loan of Austin (HFLA) marked a significant milestone: its “B’nai Mitzvah Anniversary,” a celebration marking 13 years of transforming lives through interest-free lending. The event, aptly titled “13th on the 13th,” brought together 50 of the organization’s most devoted supporters for a heartfelt evening of reflection, gratitude, and celebration.
A Tradition Rooted in Jewish Values
The history of Hebrew Free Loan Societies is deeply intertwined with Jewish tradition and the principle of tzedakah. Jewish law prohibits the charging of interest between fellow Jews, a practice grounded in the Torah and reinforced over centuries. In the late 19th and early 20th centuries, as waves of Jewish immigrants arrived in the United States, Hebrew Free Loan Societies arose to provide much-needed financial support. These organizations offered interest-free loans to help Jewish merchants establish small businesses at a time when banks refused to lend to immigrant communities.
Today, Hebrew Free Loan Societies continue to fulfill their mission, offering financial assistance to those in need while preserving dignity and fostering independence. Hebrew Free Loan of Austin proudly carries this legacy forward into the 21st century, adapting the model to meet the needs of Austin’s growing and diverse Jewish community.
From Vision to Reality: The Birth of HFLA
HFLA’s journey began in January 2011, when two visionaries, Tracy Solomon and Dr. Michael Rotman, connected over their shared dream of creating a Hebrew Free Loan program in Austin. Dr. Rotman’s personal connection to free loan programs ran deep—his father, a Jewish immigrant from Ecuador, received a life-changing loan from a San Antonio free loan society in the 1950s. Meanwhile, Solomon, who was deeply involved with growing the Austin Jewish community recognized a need locally. And drawing inspiration from her brother Jeff Horowitz, a longtime supporter of Hebrew Free Loan of Houston, she joined forces with Rotman.
With the support of 30 dedicated families pledging over $50,000, Solomon and Rotman co-founded HFLA, officially launching the organization in 2011. The first loan was issued in November of that year, marking the beginning of a movement that would touch hundreds of lives.
13 Years of Transforming Lives
Since its inception, Hebrew Free Loan of Austin has been a vital lifeline for individuals and families across the greater Austin Jewish community. Over the past 13 years, the organization has disbursed more than 280 loans, totaling over $1.4 million. From helping entrepreneurs launch businesses to assisting families with emergency expenses, HFLA’s impact has been both profound and far-reaching.
The organization’s 98.6% repayment rate speaks to the trust defining its operations. Funds are continuously recycled, allowing every repaid loan to fund new opportunities for others. Today, HFLA has over $470,000 circulating in active loans and more than $700,000 in total assets—a testament to the community’s generosity and the organization’s careful stewardship.
Celebrating Success and Honoring Leadership
The “13th on the 13th” celebration was not just a look back at HFLA’s accomplishments; it was also an opportunity to honor the individuals who have driven its success. Board Chair Ed Hockfield was recognized for his four years of dedicated service, during which he provided invaluable leadership and guidance. The event also included heartfelt tributes to outgoing board members Marvin Schrager and Dana Baruch, who have been tireless advocates for the organization’s mission.
Guests at the event reflected on the incredible impact of HFLA’s work and the lives changed through its interest-free loans. From students pursuing higher education to families facing various challenges, the stories shared throughout the evening underscored the importance of HFLA’s mission and the power of a helping hand.
Looking to the Future
As HFLA enters its next chapter, the organization remains committed to expanding its reach and deepening its impact. With plans to grow its lending programs and continue building strong community partnerships, HFLA is poised to support even more individuals and families in the years to come.
The organization’s success is rooted in the generosity of its donors, whose support ensures that funds are available for those in need. As part of the B’nai Mitzvah celebration, HFLA renewed its call for community members to contribute to its mission—whether by establishing Eternal Impact Named Funds or through ongoing donations that keep the lending cycle alive.
A Legacy of Community Support
The story of Hebrew Free Loan of Austin highlights the strength of community and the enduring value of mutual support. Over the past 13 years, HFLA has empowered individuals and families to overcome financial challenges and build brighter futures, all while preserving dignity and trust.
This milestone reflects the dedication of its founders, board members, and supporters, as well as the deep roots of a tradition that values lending a hand to those in need. As HFLA continues its work, the impact of these efforts will remain a source of strength and opportunity for generations to come.
On November 13, 2024, Hebrew Free Loan of Austin (HFLA) marked a significant milestone: its “B’nai Mitzvah Anniversary,” a celebration marking 13 years of transforming lives through interest-free lending. The event, aptly titled “13th on the 13th,” brought together 50 of the organization’s most devoted supporters for a heartfelt evening of reflection, gratitude, and celebration.
A Tradition Rooted in Jewish Values
The history of Hebrew Free Loan Societies is deeply intertwined with Jewish tradition and the principle of tzedakah. Jewish law prohibits the charging of interest between fellow Jews, a practice grounded in the Torah and reinforced over centuries. In the late 19th and early 20th centuries, as waves of Jewish immigrants arrived in the United States, Hebrew Free Loan Societies arose to provide much-needed financial support. These organizations offered interest-free loans to help Jewish merchants establish small businesses at a time when banks refused to lend to immigrant communities.
Today, Hebrew Free Loan Societies continue to fulfill their mission, offering financial assistance to those in need while preserving dignity and fostering independence. Hebrew Free Loan of Austin proudly carries this legacy forward into the 21st century, adapting the model to meet the needs of Austin’s growing and diverse Jewish community.
From Vision to Reality: The Birth of HFLA
HFLA’s journey began in January 2011, when two visionaries, Tracy Solomon and Dr. Michael Rotman, connected over their shared dream of creating a Hebrew Free Loan program in Austin. Dr. Rotman’s personal connection to free loan programs ran deep—his father, a Jewish immigrant from Ecuador, received a life-changing loan from a San Antonio free loan society in the 1950s. Meanwhile, Solomon, who was deeply involved with growing the Austin Jewish community recognized a need locally. And drawing inspiration from her brother Jeff Horowitz, a longtime supporter of Hebrew Free Loan of Houston, she joined forces with Rotman.
With the support of 30 dedicated families pledging over $50,000, Solomon and Rotman co-founded HFLA, officially launching the organization in 2011. The first loan was issued in November of that year, marking the beginning of a movement that would touch hundreds of lives.
13 Years of Transforming Lives
Since its inception, Hebrew Free Loan of Austin has been a vital lifeline for individuals and families across the greater Austin Jewish community. Over the past 13 years, the organization has disbursed more than 280 loans, totaling over $1.4 million. From helping entrepreneurs launch businesses to assisting families with emergency expenses, HFLA’s impact has been both profound and far-reaching.
The organization’s 98.6% repayment rate speaks to the trust defining its operations. Funds are continuously recycled, allowing every repaid loan to fund new opportunities for others. Today, HFLA has over $470,000 circulating in active loans and more than $700,000 in total assets—a testament to the community’s generosity and the organization’s careful stewardship.
Celebrating Success and Honoring Leadership
The “13th on the 13th” celebration was not just a look back at HFLA’s accomplishments; it was also an opportunity to honor the individuals who have driven its success. Board Chair Ed Hockfield was recognized for his four years of dedicated service, during which he provided invaluable leadership and guidance. The event also included heartfelt tributes to outgoing board members Marvin Schrager and Dana Baruch, who have been tireless advocates for the organization’s mission.
Guests at the event reflected on the incredible impact of HFLA’s work and the lives changed through its interest-free loans. From students pursuing higher education to families facing various challenges, the stories shared throughout the evening underscored the importance of HFLA’s mission and the power of a helping hand.
Looking to the Future
As HFLA enters its next chapter, the organization remains committed to expanding its reach and deepening its impact. With plans to grow its lending programs and continue building strong community partnerships, HFLA is poised to support even more individuals and families in the years to come.
The organization’s success is rooted in the generosity of its donors, whose support ensures that funds are available for those in need. As part of the B’nai Mitzvah celebration, HFLA renewed its call for community members to contribute to its mission—whether by establishing Eternal Impact Named Funds or through ongoing donations that keep the lending cycle alive.
A Legacy of Community Support
The story of Hebrew Free Loan of Austin highlights the strength of community and the enduring value of mutual support. Over the past 13 years, HFLA has empowered individuals and families to overcome financial challenges and build brighter futures, all while preserving dignity and trust.
This milestone reflects the dedication of its founders, board members, and supporters, as well as the deep roots of a tradition that values lending a hand to those in need. As HFLA continues its work, the impact of these efforts will remain a source of strength and opportunity for generations to come.
