Kerry Moss, executive director of the Tucson Jewish Free Loan, wants to help more people.
The Free Loan serves people of all faiths across Southern Arizona, as it has since its founding in 1947, providing interest-free loans of up to $7,500 for a variety of needs, such as home or auto repairs, debt consolidation, medical expenses, and other unexpected costs.
Despite its longevity — and a record of 97.4% of loans repaid — the Free Loan is still one of Tucson’s best-kept secrets, says Moss, who joined the organization in August.
“My primary focus is getting the message out there,” Moss says, explaining that the Free Loan can help people who may not qualify for traditional loans because they have a poor credit score or have a job with an irregular income, such as being a rideshare driver.
Often such people can only obtain loans at exorbitant interest rates, Moss says, adding that the Free Loan can help people break free of predatory loans.
“We had one individual in the last month” who owed money on a line of credit. “His repayment every two weeks was $259 and his administration fee was $217 – he was never going to break that cycle” without help, she says.
To reach more people in need, last week the Free Loan launched a furlough program for people affected by the federal government shutdown. Loans of up to $7,500 are available via a unique, shortened application form, Moss says, adding that all Free Loan applications begin with an online form.
Moss immigrated to Tucson from South Africa four years ago with her husband, their son, and two dogs. In Johannesburg, she was a partner in a financial investment firm for 15 years. In her free time, she volunteered with Rotary, serving as president and head of projects at Rotary Club of Umhlanga, where she directed community initiatives focusing on health, education, and economic development.
The Umhlanga club honored her with its Service Above Self and Rotarian of the Year awards. In 2019, she received Rotary International’s Paul Harris Award.
Her new role at the Tucson Jewish Free Loan combines her financial ability and her desire to provide humanitarian service, she says.
Free Loan Board President Katie Filous Malka says Moss “can look at the numbers, look at the books, and make really intelligent decisions that are going to help the business side of the Free Loan.”
“And then she is really focused on relationship building around the community. So one of her priorities, even from day one, was to set up meetings with Jewish organizations and non-Jewish organizations that might be aligned with our mission,” Malka says, to make sure they are aware of the Free Loan’s programs, which include an employee financial assistance program introduced in 2018, with loans repaid through payroll deductions.
Malka agrees with Moss’s emphasis on “letting people know who we are and what we do,” explaining that often people think with an interest-free loan, “there must be a catch.”
“If you qualify under our parameters for a loan, then our loan committee’s going to approve it, and there’s really not a catch,” she says.
As loans are repaid, those funds are available to be recycled into new loans, Malka adds.
The Free Loan qualifies for the Arizona Charitable State Tax Credit.
“It’s very unusual that you have the ability to donate $1 and then that $1 is going to be used year after year after year after year,” Moss says.
But the Free Loan’s priority, Moss reiterates, “is to get more loans out, onto the streets.”
More information is available on the Tucson Jewish Free Loan website.
