Business owners who received a loan from the Jewish Agency's loan fund

As 2011 begins the Jewish Agency is launching a new campaign which offers entrepreneurs and business owners who are looking to set up a new business, or to expand an existing one, to take a loan of up to NIS 350,000 on excellent terms.

The campaign promotes 3 small business loan funds operated by the Jewish Agency in 3 different areas: the UJA Federation of New York Fund which supports entrepreneurship in Jerusalem and the surrounding area, the Jewish Federation of Metropolitan Detroit Development Fund which is based on contributions from the Detroit community and operates in the area of Nazareth Elite, Migdal HaEmek and the Jezreel Valley Regional Council, and the United Jewish Federation of Pittsburgh Fund which utilizes contributions from the Pittsburgh community in the area of Carmiel and the Misgav Regional Council.

The three funds will provide entrepreneurs and business owners with a special assistance package for business establishment or expansion, including: loans of up to NIS 350,000, a guarantee of up to 70% of the loan amount, a far lower rate of interest than the going market rate, business consultancy and special credit terms. The funds provide entrepreneurs with excellent conditions, including providing a Jewish Agency guarantee, without which it is sometimes difficult to obtain commercial loans. A public committee reviews the loan applications.

Jewish Agency loan manager, Amir Sznajderman, noted that the Jewish Agency currently operates 8 loan funds around Israel, which provide entrepreneurs and small business owners with initial capital for setting up a new business, or expanding an existing enterprise. This Jewish Agency initiative, particularly in Israel's periphery, helps to reduce unemployment and helps to bolster economic growth.

Entrepreneurs or business owners who are interested in details or submitting a loan application may contact the following:

For loans in Jerusalem and the surrounding area: tel. 02-6204181

For loans in the North: tel. 04-9990788

Entrepreneurs interested in further information may also fill out an online form at: www.jewishagency.org/loans.