The United Jewish Federation Of Pittsburgh provides aid through the Pittsburgh Emergency Loan Fund to Carmiel-Misgav businesses: five loan funds awarded two local businesses amounting to more then NIS1,000,000.

The United Jewish Federation of Greater Pittsburgh established a revolving loan fund to address the economic crises in the Carmiel-Misgav Region and in Israel, which was the result of the security situation in Israel over the last three years. The Fund was established through donations collected by the UJF for the Israel Emergency Appeal. The Jewish Agency for Israel and Bank Otzar Hachayal joined the initiative with additional funds, creating a fund totalling $1.5 million.

At the first meeting of the Business Loan Fund Allocations, seven requests for loans for small and medium size businesses in the region were reviewed. Five loans were approved totaling NIS1,000,000. The committee chair, Mr. Tzvi Pe'er, expressed his appreciation to the Jewish community of Pittsburgh for understanding the pressing financial needs in the region as a result of the security reality that Israel was facing since September 2000. He also expressed his gratitude to the Jewish Agency for Israel and Bank Otzar Hachayal for joining the Pittsburgh community in the establishment of the fund and for enlarging its capital.

"We are very pleased that we as a community could identify and address a real, pressing need in our Partnership 2000 region" said Karen Shapira from Pittsburgh - who is the chair of the loan fund. "In addition to the business loans, the loan fund will give interest free student loans for students from the region. We were looking for a way to address the needs of the middle class and to try and ensure that the backbone of the economy manages to sustain itself during this difficult economic period".

The Loan Fund is governed by an executive steering committee chaired by Karen Shapira of Pittsburgh. Its members consist of representatives of the different organizations and the municipalities of Carmiel and Misgav in addition to members representing the public and the citizens of the region. "These public representatives have a clear majority in the committee as we wanted this process to be owned and driven by the community" Ms. Shapira added.

A Jewish Agency spokesperson said that the Agency welcomed the establishment of the fund and hopes it will serve as a model for similar funds in other regions. He continued to say that in this case it is a testimony to the excellent relationship that exists between the people of Carmiel and Misgav and the Jewish community of Greater Pittsburgh.

Mr. Pe’er said that he hopes that his committee will be meeting on a monthly basis to approve as many loans as possible and the Scholarship committee will award as many student loans as possible. He called for new requests to be submitted to the Committees through MATI Lev Hagalil.

  Elul 5764 - September 2004