October 10, 2007 / 28 Tishrei 5768

Leo Doron arrived in Israel from Mexico with little money but lots of ambition. When faced with the business opportunity of a lifetime several years after making aliyah, Doron did not have the funds necessary to convert this ambition into action.  At the suggestion of the Jewish Agency, Doron connected with the Jerusalem Loan Fund, a project initiated by the UJA-Federation of NY and supported by the Jewish Agency, that provides small business loans to those in need.  Today, thanks to the Fund and its supporters, Leo delights in owning a thriving business and even employs three staff members. 
 
In 2005, the owner of the recording studio where Doron worked offered him to purchase the business at a very reasonable price. "But I had just $200 in my pocket," Doron recalls, "and no way of raising the $50,000 needed for the business."  Doron, who immigrated to Israel from Mexico in 1996, was frustrated by his unsuccessful attempts to secure loans from banks throughout Jerusalem.  
 
"My dream seemed to be evaporating," says Doron. "So as a new immigrant, I naturally made enquiries at the Jewish Agency who put me in contact with the Jerusalem Loan Fund."  Founded by the UJA-Federation of NY, the Jerusalem Loan Fund seeks to strengthen the city's economy by offering assistance in opening and expanding small businesses in Jerusalem. The Fund receives additional support from the Jewish Agency which enables additional entrepreneurs to follow their dreams.

The Jerusalem Loan Fund was happy to provide Doron with the collateral he needed to purchase the enterprise. Since then, the studio in the capital’s Talpiot Industrial Zone has gone from strength to strength.  Doron’s customers include an eclectic range of musicians from orthodox cantors and ultra-orthodox klezmer ensembles to rock and jazz bands. “I specialize in ethnic music,” Doron says, “and one of my customers is the Diaspora Museum who is archiving Jewish melodies that will otherwise be lost from our heritage.” 

“Since I was a teenager when I worked for a radio station in Mexico I have been interested in the technical side of music,” admits Doron.  The ability to own and run his own recording studio has transformed this interest into a flourishing career and has turned Doron’s dream into a reality. 

With your help, the Jewish Agency and the Jerusalem Loan Fund can continue to enable Jerusalem’s entrepreneurs to pursue their dreams.  Your support will not only assist small business owners but will help to develop the business landscape of Jerusalem in prosperous and exciting new ways.  To donate, click here.