Montana's Free Loan Society
History
After the passing of his beloved Zayde (grandfather), Rabbi Shimon Goldman, in the fall of 2016; Rabbi Chaim Bruk of Bozeman resolved to establish Montana’s Free Loan Society, a Gemach, in his memory, as this was a cause dear to his heart. Montana’s Free Loan Society (Gemach) serves the Jewish community of Big Sky Country by providing interest-free loans to people struggling, helping them foster economic independence while preserving their inherit dignity.
Interest-free lending is a profoundly Jewish and centuries-old response to financial need, most famously articulated by Maimonides: “A loan is better than charity, for it enables one to help oneself.”
The funding for these loans comes from donations large and small; the moneys are then circulated in perpetuity as interest-free loans to deserving individuals and families. Your contribution to Montana’s Free Loan Society is truly the gift that keeps on giving, as the repayment rate on these loans is exceptionally high and the list of people in need of such loans is exceptionally long.
Interest-free lending is a profoundly Jewish and centuries-old response to financial need, most famously articulated by Maimonides: “A loan is better than charity, for it enables one to help oneself.”
The funding for these loans comes from donations large and small; the moneys are then circulated in perpetuity as interest-free loans to deserving individuals and families. Your contribution to Montana’s Free Loan Society is truly the gift that keeps on giving, as the repayment rate on these loans is exceptionally high and the list of people in need of such loans is exceptionally long.
Eligibility
Please Review Before Applying for a Loan
1. Interest-free loans are available to Jewish residents of Montana.
2. All loans require cosigners . Any amount less than $500 requires 1 cosigner. Any amount over $500 requires 2 cosigners. Cosigners should have good credit and steady income, be over 25 years of age and reside in Montana.
3. Loan applicants will be required to provide the following documentation at their appointment:
--Current MT Driver’s License or ID
--Proof of Social Security Number
--Proof of current income
--Proof of rent or mortgage payment
4. Please note: You may only apply for one loan at a time.
1. Interest-free loans are available to Jewish residents of Montana.
2. All loans require cosigners . Any amount less than $500 requires 1 cosigner. Any amount over $500 requires 2 cosigners. Cosigners should have good credit and steady income, be over 25 years of age and reside in Montana.
3. Loan applicants will be required to provide the following documentation at their appointment:
--Current MT Driver’s License or ID
--Proof of Social Security Number
--Proof of current income
--Proof of rent or mortgage payment
4. Please note: You may only apply for one loan at a time.