Herzog Honors JFNA Fund for $240 Million in Loans to Israeli Businesses
Summarized from The Jerusalem Post by baba
President Isaac Herzog honored the Jewish Federations of North America (JFNA) Israel Small Business Loan Fund for providing over $240 million in loans to 4,132 Israeli businesses since October 7, 2023. The initiative, part of a larger emergency campaign that raised over $900 million, supported businesses and jobs impacted by the war. The fund utilized philanthropic capital to secure bank financing, with repaid loans being re-lent. Approximately 48% of the loans went to businesses in northern Israel and border areas.
The story in 6 lines · by baba
- JFNA's loan fund provided over $240 million to 4,132 Israeli businesses since October 7.
- President Isaac Herzog honored the JFNA initiative at his Jerusalem residence.
- The fund is part of JFNA's Israel Emergency Campaign, which raised over $900 million.
- Loans supported businesses and jobs affected by the war, including those near borders and in tourism.
- Approximately 48% of the loans were allocated to businesses in northern Israel and border regions.
- Repaid funds are being re-lent, with a low rate of overdue capital.
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