North America’s largest Jewish federation announced it has allocated $200, 000 to guarantee $1.4 million in emergency loans for Jerusalem businesses.
The loans, made through the Jewish Agency’s Loan Funds Initiative, are to help distressed Jerusalem-based businesses that have been hurt by the upsurge of violence attacks in the recent weeks.
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“The wave of terror has significantly reduced revenues for many Jerusalem businesses that rely on foot traffic and walk-in customers, ” said UJA-Federation CEO Eric S. Goldstein. “UJA-Federation is acting as the guarantor for very favorable loans to support businesses that might not otherwise be able to qualify in these turbulent times.”
