A Jewish foundation will launch a program to revitalize the Gulf Coast on the third anniversary of Hurricane Katrina. Jewish Funds for Justice will launch the “8th Degree” on Aug. 29, the first person-to-person microloan program in the United States. It will partner contributors nationwide with small business owners on the Gulf Coast. The “8th Degree” is named for what medieval philosopher Maimonides “termed the highest form of charity – when a giver makes a loan or helps someone in need become self-sufficient,” according to a press release on Friday.
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