The coronavirus outbreak has challenged the work of many nonprofits around the world, including Jewish nonprofits in the United States. Financial difficulties, lack of volunteers and donations, as well as an increase in demand for their services, all hamper the organizations' ability to assist the most vulnerable deal with the crisis. To help Jewish nonprofits access financial support, the Jewish Federations of North America (JFNA) launched a national program through the Coronavirus Aid Relief and Economic Security (CARES) Act.
The US Senate presented the CARES Act last week, an emergency aid package aiming to provide billions of dollars to alleviate the economic impact of the coronavirus on individuals and businesses. The Act includes a provision for $350 billion in Small Business Administration (SBA) loans, and nonprofits with less than 500 employees are eligible for these loans, as part of the Paycheck Protection Program.
JFNA is committed to ensure Jewish nonprofits can have access to those loans by providing them with information on eligibility, helping them calculate their potential loan amount, and by assisting them with the application process. JFNA has also set up a national resource bank of professionals and volunteers who can answer questions regarding the loans through the JFNA SBA loan hotline at 212-284-6625 or at SBALoans@JewishFederations.org.
“The Paycheck Protection Program is an unprecedented resource in helping to ensure that Jewish Federations, community centers, synagogues, Jewish day schools, Jewish Family Service agencies and others are able to continue their critical work to help vulnerable populations and safeguard Jewish life across America," said Eric D. Fingerhut, president and CEO of the JFNA.
“We are grateful for this opportunity and strongly urge all Jewish organizations to apply,” he added.
“We will do everything in our power to help and equip Jewish communities with the tools they need to fulfill their important missions,” said Mark Wilf, Chair of the Board of Trustees of the JFNA.