Hermanowski Family Foundation Initial Request Form

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Organization Name: Jewish Free Loan Chicago
Legal Name (if Different): Jewish Free Loan Chicago Inc
Also Known As: JFLC
Mailing Address: 4411 N Ravenswood Ave, Suite 300
City: Chicago
State: IL
Postal Code: 60640
Main Phone: 321-344-3468
Main Fax:
Organization Website: jflchicago.org
Employer ID Number: 92-0562371
Organization Tax Status: 501(c)(3)

Proposal Information

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Today’s Date: 3/29/24
Requested Amount: $10,000

Project Title: Revolving Loan Fund – Restricted for Benefit of Children
Project Description:

JFLC aids and empowers lower-income families facing financial emergencies with zero-interest personal loans of up to $6,000. Founded in 2022, JFLC is the only zero-interest loan program in the Chicagoland area.

JFLC is an innovative program built on dignity that supports individuals in accessing safe, affordable loans. In 2019, 61% of Chicago families were financially insecure, with less than $2,000 in savings, compared to 52% nationally. In Chicago’s predominantly Black and Latino neighborhoods, only 33% of families have at least $2,000 in savings, compared to 91% of families in predominantly White areas (The Urban Institute). Many of our neighbors are unable to weather financial emergencies; indeed, one relatively small influx of cash can significantly impact a household’s long-term prospects, putting them on a path of financial empowerment rather than demise.

Amidst rising inflation, the high costs of basic needs like food and transportation are putting additional financial strain on families already living paycheck to paycheck. Current JFLC borrowers have taken advantage of our loan program for things such as:
– helping a family to access after-school care for child with special needs,
– covering the cost of a new laptop for a high schooler,
– allowing a family with two young children afford expensive parent reunification therapy, and
– ensuring that families with teenagers are able to avoid disruptions in housing and eviction after a parent falls short on making a rent payment.

JFLC already partners with community agencies, such as legal aids and domestic violence shelters, that work with lower-income clients and their children. JFLC gives priority to these community referrals.

Total Project Budget: $100,000

Other Funding
Sources For The Project (Committed & Potential): Sylvia Zionitz Foundation ($30,000 restricted for the benefit of children) – Committed; Chicago Community Trust ($10,000) – Potential; 5x$10,000 individual donors – Potential

Project Duration: July 1, 2024 – June 30, 2025
Geographical Area Served: Chicago region (Cook, DuPage, Kane, Lake, McHenry, or Will County)
Age Group To Be Served: Households that include at least at least one child 0-17 years old

Contact Information

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Contact Prefix (Mr,Mrs etc.): Ms.
Contact First Name: Leah
Contact Last Name: Greenblum
Contact Title: Executive Director
Contact Phone: 321-750-3970
Contact Email: Lgreenblum@jflchicago.org