Confirms that the Jewish Reconstruction Fund has agreed to issue Mr Beretz a loan of 1000 francs to pay for the current year's rent on the farm. Attached to the letter [but not included] is an IOU to be repaid within one year in two installments with 3% interest. The letter also expresses surprise at the fact that Mr Beretz did not use the previous 2500-franc loan for the purposes of indicated in the loan application, i.e. to buy a cow. The letter serves as a reminder that loans are need- and purposes-based and expresses the hope that the cow will be purchased in the near future.