WASHINGTON, D.C. – Following the passage of the Coronavirus Aid Relief and Economic Security (CARES) Act, the largest emergency aid package in U.S. history, The Jewish Federations of North America (JFNA) announced a national program to help Jewish nonprofits access financial support made possible through the legislation.
The CARES Act includes more than $2 trillion to help individuals and businesses struggling amid the COVID-19 pandemic. This includes a provision for $350 bil-lion in Small Business Administration (SBA) loans, and 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 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 JFNA. “We strongly urge all Jewish organizations to apply.”
“We are committed to serving as a resource for every Jewish organization in America,” said Mark Wilf, Chair of the Board of Trustees of The Jewish Federa-tions of North America, “and we will do everything in our power to help and equip Jewish communities with the tools they need to fulfill their important missions.”
More information on the Paycheck Protection Program and the CARES Act, in including expert webinars is available at www.jewishtogether.org/sba-loan-information.
JFNA has also set up a national resource bank of professionals and volun-teers who can assist nonprofits with the loan process. Interested organiza-tions can contact the JFNA SBA loan hotline at (212) 284-6625 or at SBALoans@JewishFederations.org with questions.
Recently, JFNA convened an emergency coalition of eight major Jewish organi-zations (including BBYO, Foundation for Jewish Camp, Hillel International, JCC Association of North America, Moishe House, the Network of Jewish Human Service Agencies, and Prizmah: Center for Jewish Day Schools) to help the Jewish community collectively respond rapidly and effectively to the coronavirus pandemic and its impact on Jewish life.