New York Federation Guarantees $1.4 Million Loans to Jerusalem Businesses

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The Ben Yehuda Street mall in Jerusalem. Credit Yoninah via Wikimedia Commons. ISRAEL

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.

“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.”

 

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