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The Jewish Free Loan Association Receives Grant to Establish Loan Fund for Veterans


July 24, 2012 - LOS ANGELES, CA

The Jewish Free Loan Association (JFLA) is thrilled to announce the creation of an exciting new program -- Strawberry Jam, a veterans loan fund. Thanks to a generous cornerstone gift from the Metabolic Studio, JFLA can now address the growing financial and educational needs of local veterans by providing interest-free loans on a non-sectarian basis.

The statistics both nationally and locally in Los Angeles indicate that the veteran population who have risked their lives for the ideals of the United States need help and support in order to navigate daily life. According to the U.S. Census Bureau's report Veteran Status, 2010 American Community Survey 1-Year Estimates, there are 63,662 veterans living in Los Angeles County and of these 71% are between the ages of 18 and 54 years of age. The median income of veterans in Los Angeles is $35,367 and 36% of the veterans have some college or an associate's degree. The veterans unemployment rate holds steady at 10%, and 7% of veterans are living below the poverty level. Veterans like other populations served by JFLA (immigrant and the elderly) often have nowhere else to turn for financial assistance. There are few community resources that offer financial assistance. JFLA is the only interest-free loan provider in the Los Angeles area, and is committed to assisting veterans with all types of needs including loans for job training, rent or security deposit, moving expenses, medical or dental bills, family emergencies, car repair or used car purchase, and much more.

JFLA plans to raise additional funds through foundation and individual gifts to help make a serious impact on the lives of veterans. "This program comes at a critical time when veterans are seeking assistance more than ever as they return from tours of duty or face financial hardship as a result of the economic downturn," said Mark Meltzer, JFLA CEO.

The Jewish Free Loan Association is a nonprofit agency offering assistance to people of all faiths facing financial challenges. For over 100 years, JFLA has provided a helping hand instead of a handout to hundreds of thousands of people through interest-free loans for emergencies, education, developing small businesses, healthcare, environmental upgrades and life cycle events. JFLA is a source of economic justice in the community, providing cash in hand to empower borrowers and promote self-sufficiency. For more information, visit the JFLA web site at www.JFLA.org or call (323)761-8830.

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Media Contact:
Elana Vorspan
Jewish Free Loan Association
(323) 761-8830, Ext. 104
Email Contact

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