Full coverage· Economy· Updated
Jewish Federations Loan Fund Aids Israeli Small Businesses Amid War
The Jewish Federations of North America (JFNA) has provided over $240 million in loans to more than 4,000 Israeli small and medium-sized businesses since the war began, helping to preserve an estimated 28,000 jobs.
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What happened
- 01Jewish Federations of North America provided over $240 million in loans to 4,132 Israeli businesses since the war.
- 02The loan fund is estimated to have helped preserve approximately 28,000 jobs in Israel.
- 03Nearly half of the loans went to businesses in northern conflict zones and the Gaza Envelope.
- 04President Isaac Herzog lauded the fund for supporting businesses impacted by the war.
- 05Less than 0.5% of the loaned capital is over a year overdue in payments.
- 06About $80 million in repaid loans has been re-lent to other businesses.
The fund, which leveraged philanthropic donations to secure bank financing, prioritized businesses in conflict zones and those owned by reservists. President Isaac Herzog praised the initiative for supporting businesses facing war-related challenges, with a significant portion of loans already repaid and re-lent.
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