The effects of the coronavirus crisis on Israel’s economy have been devastating, most pointedly for low-income households. Around one million Israelis remain out of work, leaving hundreds of thousands of low-income households without any income. Tens of thousands of small businesses have closed permanently, with the same number at least expected to follow. Half of Israel’s non-profit organizations, on which millions of people depend for daily support, are struggling to survive.
A second wave of the virus in the summer has hit Israeli badly and seen its death toll rise above 600, further slowing down any hopes of an economic recovery. Israel’s Finance Ministry is warning of the toughest recession in 40 years, with the economy unlikely to recover until 2023 at the earliest.

• Ogen makes interest-free loans of up to ILS 30,000 to low-income households, including for people now unemployed as a result of the crisis.
• Ogen makes guarantor-free low-interest loans of up to ILS 200,000 to small businesses of up to ILS 5 million in revenue. Business receive a grace period of 12 months before they begin repaying.
• Ogen makes guarantor-free low-interest loans of up to ILS 650,000 to non-profits, helping some of the most vital and at-risk organizations in Israel to withstand this difficult financial period. Non-profits receive a grace period of 12 months before they begin repaying.
• Through Ogen La’Bayit and Keren-Shemesh, Ogen provides financial guidance and mentoring for borrowers, including small business owners and non-profits, who need not just credit, but new skills and a rebuilt financial plan in the wake of the coronavirus crisis.

Demand for loans is increasing rapidly. Our team has fielded more than 10,000 loan enquiries since the onset of crisis. In July 2020 alone Ogen lent more than ILS 24 million, five times the amount we lent at the beginning of 2020.
We need your continued support to not turn people away at their time of need.