Aug 13, 2024
New Program Supports IDF Reservist Business Owners
Federation is working with the Israeli banking system to provide grants for small businesses owned and operated by IDF reservists that have been struggling since the start of the war. Within 48 hours of the program’s launch, overseen by Federation overseas partner The Jewish Agency for Israel, more than 2,400 applications were received, demonstrating the critical need for support. To qualify for the grants, applicants or their spouses must have completed at least 60 days of reserve duty and their businesses must have suffered a 20 percent reduction in income. On average, the applicants have, in fact, served 186 days of reserve duty and seen an 80 percent loss in income. Amira Ahronoviz, CEO of The Jewish Agency, noted the importance of assisting this specific demographic, pointing out that they not only put themselves at risk and left their homes and families, but also sacrificed their financial standings. The funds for the grants are expected to help 5,000-7,000 people. To learn all the ways Federation funds are helping in Israel, click here.
