UJA-NY Federation Offering $1.4 Million Loan Guarantees to Hurting Jerusalem Businesses

(JNi.media) Responding to the needs of many distressed Jerusalem-based businesses in the midst of a wave of shooting and stabbing attacks, UJA-Federation of New York announced on Wednesday that it has allocated $200,000 in capital to guarantee approximately 5.4 million Israeli shekels ($1.4 million) in emergency loans through The Jewish Agency’s Loan Funds Initiative.

“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, explaining that “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.”

Businesses interested in applying for these emergency loans should email Hen@Mati.org.il or call 02-679-4242 to receive help preparing and submitting applications and all necessary financial statements. All applications will be answered within ten working days.