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.
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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.”