FRANKFURT (Feb. 2)
At the first annual meeting of the Central Council of Jewish Loan Cooperatives in Germany, it was reported that loans totaling 1,000,000 marks had been made to Jewish businessmen and artisans to enable them to become self-supporting.
The five revolving loan funds, all of which were set up as independent cooperative societies, have become one of the most constructive elements in postwar Jewish life in Germany. Their basic capital stock is provided mainly by the Joint Distribution Committee, the Claims Conference and the Central Jewish Welfare Agency here. The loans granted during the first year of operation averaged $600 and went to 250 storekeepers and other small businessmen, to 65 artisans and to about 50 small industrialists and professional men.