Hebrew Free Loan Society (HFLS)

History

The Hebrew Free Loan Society (HFLS) was founded in 1892 by ten leaders of the Jewish immigrant community on Manhattan’s Lower East Side who pooled money to create an interest-free loan fund. Unlike other Hebrew Free Loan organizations, HFLS makes loans available to all New Yorkers, though it prioritizes meeting needs within New York City’s Jewish community. HFLS maintains a 99.9 percent repayment rate and has lent over $450,000,000 to more than 900,000 borrowers since its founding 130 years ago. As loans are repaid, HFLS lends the capital out again to multiply its impact and reach. ¹

Initiatives

Hebrew Free Loan Society (HFLS) operates several loan programs and initiatives. Among the various loan program areas it offers are adoption, fertility treatment, housing, and health care. ²

HFLS has several left-of-center loan programs that are designated specifically for LGBT Jews and New York community members. HFLS partners with two left-wing Jewish LGBT activist groups, Keshet and Jewish LGBTQ Donor Network, to provide interest-free loans to gay and transgender people who have moved due to claimed safety concerns. ^{3 4 5}

Next Generation Network is another HFLS initiative that brings together young professionals at events where they hear from HFLS borrowers who benefited from HFLS’s interest-free loan programs. The campaign is intended to grow HFLS’s network and expose young professionals to careers in economic development, microfinance, and philanthropy. ⁶

HFLS highlighted several successful initiatives in its 2024 impact report, including its small business, special education, college tuition, and immigrant loan programs. The report also mentioned HFLS’s efforts to support Israel following the October 7, 2023 Hamas terrorist attacks against Israeli citizens. In response to the attack and ensuing Israel-Hamas war, HFLS led a $3,400,000 loan effort to provide funds for Ogen, Israel’s largest social-purpose lender. ⁷

Leadership

As of 2025, David Rosenn was the president and CEO of the Hebrew Free Loan Society (HFLS). He managed HFLS’s range of interest-free loan programs and oversaw the development of new programs. Before joining HFLS, Rosenn worked as executive vice president of the New Israel Fund, a left-of-center Israel-focused grantmaking organization. Previously, he was the executive director of AVODAH: The Jewish Service Corps, anti-poverty program he founded that has sites in New York, Chicago, New Orleans and Washington, D.C. Rosenn is a graduate of Harvard University and holds a master’s degree in Hebrew Letters from the Jewish Theological Seminary of America (JTS). ⁸

Ellen Braitman is the chair of the HFLS board. She is a business journalist who oversees Bloomberg LP’s News Innovation Lab. She is the author of a book on personal finance for college students. Braitman joined the HFLS board in 2005. She also chairs the organization’s governance committee. As of 2025, she was also pursuing a master’s degree in creative writing and literature. ⁹

Financials

In 2023, the Hebrew Free Loan Society (HFLS) reported $7,309,869 in total revenue, $3,782,035 in total expenses, and $49,249,393 in total assets. ¹⁰

In its 2024 Impact Report, HFLS highlighted several partner institutions that provide donations to HFLS of varying ranges. The following organizations and individuals donated $100,000 or more in 2024: the Jeffrey H. And Shari L. Aronson Family Foundation, Joseph Blum, the Estate of Eleonore Gruenebaum, Kirsh Foundation Holdings Ltd., the Moise Y. Safra Foundation, the Jeffrey Seller Family Foundation, and the UJA-Federation of New York. ⁷