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WHEREAS, the Hebrew Free Loan Association of Pittsburgh is a nonsectarian, non-profit organization that offers interest-free loans to borrowers based on the Biblical mandate not to collect interest when lending money to those in need; and,
WHEREAS, over the years, the Hebrew Free Loan Association of Pittsburgh has been empowering individuals and families in Pittsburgh to accomplish goals they could not otherwise afford through these interest free loans. Loans, rather than charity, help people become and remain self-sufficient and independent; and,
WHEREAS, the Hebrew Free Loan Association of Pittsburgh is one of the original micro-lenders in the United States and the oldest of 40 such Hebrew Free Loan societies in the United States. Loans are available regardless of religion, race, age, national origin, gender, or sexual orientation providing that the borrower is a resident of Allegheny County and has a source of income; and,
WHEREAS, begun in 1886 by five men from a Hill District synagogue with money left over from the synagogue's appeal, the first loan was to a single mother in dire need who wanted only to accept it as a loan. In the years following the charter of the group, it has provided funds for small businesses, refugees from the Russian Revolution, the Great Depression, the Johnstown Flood, merchants affected by civil rights demonstrations, the Russian immigrant wave in the 1980's, college tuitions, home improvements, revitalization loans and the 2004 floods that hit Sharpsburg and Etna. While the world has changed, the Hebrew Free Loan's mission remains the same; and,
WHEREAS, the Hebrew Free Loan Association of Pittsburgh will celebrate its 130th Anniversary and Annual Meeting on Sunday, May 21, 2017 at the Friendship Circle in Squirrel Hill; and,
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NOW, THEREFORE BE IT RESOLVED, that the Council of the City of Pittsburgh does hereby recognize the Hebrew Free Loan Association of Pittsburgh for its longstanding commitment to assistin...
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