COVID-19: Loan Fund 4 Communities At Risk | The Jewish Agency

The Jewish Agency for Israel - The Jewish Federations of North America - Keren Hayesod

The Jewish Agency
COVID-19 Crisis Loan Fund
for Communities At Risk

Our Partners: The Jewish Federations of North America and Keren Hayesod

 

The coronavirus crisis is causing severe financial distress in Jewish communities across the world, many of which lack the funds to meet their immediate needs. Communities that were previously financially stable have suffered a sharp decline in income and are struggling not only to maintain basic services and programs, but also to assist community members who require help. Even with stay-at-home orders in place, they must continue to pay for facilities and try to retain talented staff members.

We recognize the financial impact of the coronavirus pandemic is devastating already-struggling Jewish communities in countries such as Italy, Spain, and South Africa. These communities are now approaching a point of no return and urgently need the support of the Jewish world.

The Jewish Agency for Israel is pleased to announce the creation of an emergency loan fund to help these communities bridge immediate gaps in cash flow which will enable them to continue to function, provide services for their community members, and avoid complete collapse.

To learn more about partnering with The Jewish Agency in this endeavor, please contact danyellen@jafi.org

More Information

 

Eligibility:

  • Legally incorporated communities and/or organizations outside the United States and Canada will be eligible.
  • Community organizations and umbrella institutions that incorporate other organizations or communities such as:

A. Zionist Federations – typically a communal organization connected to Israel, Jewish identity, Zionist activities and/or The Jewish Agency

B. Representative communal organizations that administer communal activities with a connection to Israel or other Jewish communities

C. National education committees, representing all the community educational institutions

  • Only applications submitted before May 31st, 2020 will be accepted.

 

Terms of the loan:

    1. The amount of the loan is not to exceed 25% of the community’s annual expenses and not to exceed $500,000.
    2. The loan will be interest-free.
    3. The loan will be repaid in four equal annual repayments, beginning on the first anniversary of receiving the loan.
    4. The program is intended only for communities and organizations located outside of North America.

 

Loan purpose:

  • Current economic uncertainty makes this loan request necessary to support the ongoing operations of the applicant.
  • The funds will be used to retain workers and maintain payroll or pay other operating expenses.