WHY INTEREST-FREE LOANS
Our philosophy and inspiration is based upon a biblical mandate from God to the Jewish people. In this Torah portion Parashat Mishpatim, God tells Moses and the people of Israel that they may not derive personal benefit from loans made to members of their community – in other words, they may not charge interest.
“If you lend money to My people, even to the poor among you, do not act toward them as a creditor; you shall not charge them interest.”
– Exodus 22:24
“You shall not lend him your money at interest, or give him your food for profit.”
– Leviticus 25:37
By offering loans, rather than charity, Hebrew Free Loan of Austin helps recipients to become self-sufficient. According to Maimonides, putting someone on a path towards self-sufficiency is the most valuable form of charity.
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