UJA-Federation of NY Offers Loan Guarantees to Ailing Jerusalem Businesses

Federation responding to downturn caused by recent violence in Israel.

Lior Mizrachi

Responding to the deleterious effects of the recent violence in Israel on Jerusalem businesses, the UJA-Federation of New York announced 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.

“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.”