Loans to Help Our Jewish Community

On Friday, March 27, President Donald Trump signed into law the Coronavirus Aid Relief and Economic Security (CARES) Act, the largest emergency aid package in U.S. history. The CARES Act includes more than $2 trillion to help individuals and businesses struggling amid the COVID-19 pandemic.

The bill includes a provision for $350 billion in Small Business Administration (SBA) loans. 501(c)(3) nonprofits with less than 500 employees are eligible for these loans.Known as the Paycheck Protection Program, these loans are intended to help small businesses keep workers employed amid the pandemic and economic downturn.

The community advocacy arm of the Jewish Federations of North America (JFNA), the umbrella organization of The Associated, played a huge role in this legislative successhelping to remove a provision that would have prevented Jewish human service agencies that receive Medicaid funds from accessing this loan.

To ensure that our communal institutions will be able to access these funds, JFNA is strongly urging all Jewish Federations, JCCs, synagogues, day schools, Jewish youth organizations, Jewish agencies and more JFS agencies and others to consider applying and to take steps now to prepare for that.

JFNA has set up a national resource bank of professionals and volunteers who can assist institutions with this process. You can learn more about the loan program here.

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