Sep 18, 2024

Emergency Loan Initiative Helps Small Businesses in Northern Israel

Jewish Miami is supporting a new emergency loan initiative for small businesses in northern Israel via the Jewish Federation's national Israel Emergency Fund. With Hezbollah’s incessant rocket attacks and the subsequent disruption of residents’ livelihoods, the nonprofit social venture SparkIL has launched an emergency loan fund of $2.7 million for the owners of impacted businesses, from café owners to beekeepers and beyond. Business owners and self-employed citizens are eligible for an interest-free loan of more than $26,000. “Each loan represents the importance of our mutual guarantee,” affirmed SparkIL CEO Na’ama Ore, “as an Israeli society and as a Jewish people to support each other.” Two years ago, in conjunction with Federation partner The Jewish Agency for Israel, SparkIL established a $500 million fund that has already contributed to more than 300 businesses.