Passaic-Clifton Gemach

Interest Free Loans for Our Community

Frequently Asked Questions
(Borrowers & Guarantors)

Who can borrow money for a loan?
Any resident of the Passaic-Clifton Jewish community is eligible to receive a loan from the Passaic-Clifton Gemach.

What is the maximum amount I can borrow?
Loan amounts are customized to each individual applicant's needs, however we typically cap loans at $10,000.

How long can I borrow funds for?
Typical loan durations are for 12 months, but we can adjust the loan terms to specific needs of individual borrowers.

Are loaned funds due as a lump sum or in monthly installments?
Loan repayments are due in monthly installments with the first payment deferred at least 30 days from the start of the loan and typically starting on the first of the month. This means that a loan issued on January 15th, would have the first payment due March 1st. If borrowers need a larger deferral period, we can adjust to the borrowers needs.

Do I need a good credit score to apply?
Loan eligibility is not dependent on credit score.

Do I need a steady income to apply?
While loan eligibility is not dependent on any hard income requirements, applicants will need to demonstrate an ability to repay the loan.

Do I need co-signers/guarantors to receive a loan?
Yes, borrowers are required to provide 1 guarantor for loans up to $1000, 2 guarantors for loans up to $5000, and 3 guarantors for loans over $5000.

I don't have anyone that can be a guarantor, can I still get a loan?
Please reach out and one of our administrators can assist you in identifying viable candidates for guarantors. Friends, family members and neighbors are all eligible to being guarantors.

Frequently Asked Questions
(Donors & Administration)

Who is in charge of the Passaic-Clifton Gemach?
As a non-profit organization, the Passaic-Clifton Gemach operates with a board of directors. The current directors are:
-Alexander Groysman - Chairman
-Elor Kahalany - Vice Chairman
-Jason Leff - Treasurer
-Adam Sunders - Secretary
-Benjy Rowner - Director
-Moshe Siegel - Director

Who is providing halachic guidance to the Passaic-Clifton Gemach?
Rabbi Menachem Spira is the halachic authority for the Gemach.

Is the Passaic-Clifton Gemach affiliated with any organization?
The Passaic-Clifton Gemach, Inc. is an independent NJ non-profit organization. While we are not formally affiliated with any other organization we partner closely with other community service organization and communal leaders to promote our services.

Can I donate money to the Passaic-Clifton Gemach?
We are only able to operate due to generous community donations, if you are interested in contributing to fund our operations and loan funding pool please reach out below. All donations are tax-deductible.

There is another gemach in town that I'm familiar with, why do we need another one?
The Passaic-Clifton Gemach was founded only after consulting community leaders and multiple local gemach operators with the aim to serve the growing needs of our growing community and including more people in the opportunity to participate in the mitzvah.

I'm involved in a community organization, can we partner with the Passaic-Clifton Gemach to help our members?
We would love to learn more about your organization and find ways to further our mission to help local families experiencing economic hardships.