We share entrepreneurial stories to inspire great ideas...
Leah Greenblum
As a fierce proponent of economic justice, Leah Greenblum founded Jewish Free Loan Chicago in 2022. Previously, Leah founded Midwest Access Coalition. She is a current fellow at the Mandel Institute’s Executive Nonprofit Leadership Program, and received the Women of Reform Judaism’s 2019 Women’s Empowerment Award. Leah earned a Masters in sociology from Brown University and graduated summa cum laude from University of Florida. She holds a nonprofit management certificate from Kellogg at Northwestern University.
Connect with Leah here…
Founder & Executive Director, Leah Greenblum
- Contributed By: Leah Greenblum
Tell us a little something about your business...
Jewish Free Loan Chicago (JFLC) is financial empowerment nonprofit organization. Rooted in Jewish values and open to people of all backgrounds, JFLC supports lower-income individuals and families facing financial emergencies through offering zero-interest personal loans. Our loans are up to $6,000 and can be used for expenses such as car repairs, home improvements, rent or mortgage assistance, debt consolidation, and more. A zero-interest loan serves as influx of safe, affordable capital at just the right time in someone’s life — intervening before a crisis becomes a catastrophe.
Founded in 2022, the concept behind JFLC is not new. In fact, it’s been honed in its modern form for the past 130+ years in cities such as New York, Los Angeles, and Detroit. Because we’re standing on the shoulders of giants, JFLC’s repayment rate is 97%, meaning that philanthropic donations are used dutifully to fuel our revolving loan fund.
Since 2022, JFLC has originated over 80 loans totaling over $325,000, and we’re just getting started.
Our borrowers are immigrants, graduate school students, single mothers, members of the transgender community, and others simply in need of a hand up. As loans are repaid in monthly installments, funds are recycled into new loans for others in need.
When was your lightbulb moment?
My lightbulb moment occurred in 2020, at the height of the pandemic, when so many jobs were getting cut and financial instability appeared to be soaring. I thought, we need a community-led solution to assist people in their time of need. I didn’t have to look far for inspiration since the Jewish tradition has honed this practice of lending for centuries.
I have been fortunate to receive the mentorship and best practices of so many of my Jewish and Hebrew Free Loan colleagues from around the world. Because of their passion for zero-interest lending and willingness to share their “secret sauce,” JFLC leadership has felt incredibly equipped to plant the seeds for our organization to exist not just for the next five or ten years, but to really support our neighbors for generations to come!
What are your three words of advice?
1. Optimism — Have faith that your circumstances may change for the better! What if something good happened?
2. Plan — Expect the unexpected, but plan as best as possible anyway!
3. Focus — What’s one thing you can today that will make the world a little bit better?
Three words of advice...
Optimism, Plan, Focus
As a fierce proponent of economic justice, Leah Greenblum founded Jewish Free Loan Chicago in 2022. Previously, Leah founded Midwest Access Coalition. She is a current fellow at the Mandel Institute’s Executive Nonprofit Leadership Program, and received the Women of Reform Judaism’s 2019 Women’s Empowerment Award. Leah earned a Masters in sociology from Brown University and graduated summa cum laude from University of Florida. She holds a nonprofit management certificate from Kellogg at Northwestern University.
Connect with Leah here…
“May your legacy create a footprint of success for the next person who steps into your shoes”
