The Gemach Merkazi is proud to announce the completion of the
Amudei Chessed program, which brought into the fund nearly
$1.5 million that quickly went toward loans and allowed the
organization to help move hundreds of applicants up the
waiting list. Members scheduled to receive loans years from
now received letters summoning them to complete their
donation and receive a loan.
Gemach spokesmen say that many people have been depositing
money to make funds available for special project loans.
Dozens of $20,000 loans have already been approved for the
Nofei Illit housing project in Modi'in Illit.
The Gemach's main plan, called Trumot Horim, has brought into
its ranks over 10,000 loan units, contributions by 2,500
families who are members of the Gemach Merkazi. Because of
the current 12-year waiting list for loans, children over age
bar mitzvah are not accepted. Therefore the Gemach management
decided to launch a program called Kibbud Horim to make loans
available to parents already in debt after marrying off
children.
The program is particularly suited to families that have
married off several children who would now like to help their
parents recover from debt. According to the program, married
children make monthly contributions toward a loan unit
designated for a younger sibling and the money donated is
given in the form of an immediate loan to parents. A payment
option is available for families unable to raise the cash
immediately.
Before the plan was announced, the Gemach administration
queried potential participants and received a very positive
response. Many people are eagerly waiting for the program to
get underway with priority given to Gemach members, as with
the other programs.
