text 2:GBF

Islam considers lending with interest payments as an exploitative practice that favors the lender at the expense of the borrower. According to Sharia law, interest is usury (riba), which is strictly prohibited. There is a similar Jewish law that prohibits Jewish individuals from charging interest to other Jews.

Recently, Quicken Loans had to make a change. Instead of considering the home loans the company makes as interest, they will now be known as a “co-investment” between the homeowner and the lender. This was a pretty big deal (and important fix) considering Quicken Loans and its Rocket Mortgage are now the top mortgage lender in the United States. Jewish Free Loan offers interest-free loans on a non-sectarian basis to individuals and families whose needs are urgent and who may not qualify through normal financial channels. Interest-free loans, instead of charity, fill an important gap in our social system by promoting self-sufficiency with dignity. Jewish Free Loan affirms the ancient biblical mandate, interest-free lending, by enacting it: They  offer interest-free loan assistance to people in need with the goal of helping them to lead more rewarding and responsible lives. About JFLA