August 24, 2015

Add Crowdfunding to Sources of Capital for Kosher Establishments

New York - Capital funding has always been a challenge for kosher establishments, resulting in many taking out loans from banks, seeking out investors, or adding a partner or two. When B&H Dairy, a 400-square-foot restaurant in the East Village, found itself a victim of the Second Avenue gas explosion in March, it looked like that it might have to go under. But, Ola Smigielska, a Polish Catholic, who owns B&H with her husband, Fawzy Abdelwahed, found a creative way to capitalize the reconstruction and reopening recently. They became a client of the YouCaring crowd-funding campaign to Save B&H (http://www.youcaring.com/SaveBandH) and within a few weeks reached their goal of $30,000 to pay for city-order upgrades and 4 months of unpaid wages for their loyal employees – all of whom have stuck with them throughout the closure. Rabbi Israel Steinberg certifies the store as kosher.