Loans

Ogen provides life-changing loans
to make people’s lives better.

Life-changing Loans for:

Individuals, Families & Students

Sometimes people need help. New immigrants, single-parent families, families who struggle, even victims of terror and their families. When people need help, Ogen provides interest-free personal loans of up to ILS 30,000.

 

 

 

Apply for a loan

Life-changing Loans for:

Small businesses

Small business people are the backbone of Israel’s economy, but receive a small share of bank credit. Ogen offers low-interest working capital or expansion loans to put small business people first. We provide low-interest loans of up to ILS 200,000 for small businesses.




Apply for a loan

Life-changing Loans for:

NGOs

The dedicated people who serve Israeli non-profits work hard to make Israel, and the world, better. But many NGOs find it hard to secure stable cash flow, and cannot receive credit from the banks.  The Ogen-Social Loan Fund offers low-interest bridge loans of up to ILS 200,000 to help non-profits continue their important work.

 

 

Apply for a loan

Personal Loans: FAQ

A: The online form is available on the Ogen website, via this link. 

A: Via the Ogen loans department at 02-5300777.

A: Loans for individual and families in general financial difficulty, loans for students, loans for people with disabilities, loans for adoption, surrogacy and fertility costs, loans for Israelis of Ethiopian origin, and emergency COVID-19 furlough and unemployment loans.

A: You will need two guarantors. Guarantors must be between the ages of 22-67, with a fixed net monthly income of at least ILS 3,000 in the same workplace. Individuals who are already listed as a borrower or a guarantor of an active Ogen personal loan cannot serve as a guarantor for an additional loan. Individuals who have open files with the Small Claims Court or restrictions on their bank accounts cannot serve as guarantors.

During COVID-19, some Ogen loans are available without guarantors. For full information, please see here.

A:           

  1. A complete loan application form, including the details of your guarantors (when required.)
  2. A scan or photocopy of both sections of the identity card (Teudat Zehut) of all named borrowers.
  3. A scan or photocopy of the last paycheck of all named borrowers who are salaried employees; or an income confirmation from a certified accountant or tax advisor for all named borrowers who are self-employed; or an income confirmation from the National Insurance Institute (Bituach Leumi).
  4. A scan or photocopy of both sections of the identity card (Teudat Zehut) of both of your guarantors (when required.)
  5. A scan or photocopy of the last paycheck, or an income confirmation from a certified accountant or tax advisor, for both of your guarantors, (when required.)

A: Personal loans go up to ILS 30,000, depending on your net monthly household income. For incomes of ILS 3,000-8,000, the maximum loan is ILS 20,000. For incomes of ILS 3,000-8,000, with four or more children under the age of 18, the maximum loan is ILS 25,000. For incomes of ILS 8,001-15,000, the maximum loan is ILS 25,000. For incomes of ILS 8,001-15,000, with four or more children under the age of 18, the maximum loan is ILS 30,000.

A: Repayments are made over the course of 40-72 months, averaging between ILS 300-500 per month, depending on your loan.

A: Any Israeli citizen (so long as they are also a resident of the State of Israel), with a demonstrable net monthly household income of ILS 3,000-18,000 for six consecutive months’ minimum over the last 12 months, can apply to Ogen for an interest-free personal loan.

Any applicant who receives income guarantees or a monthly stipend from the National Insurance Institute (Bituach Leumi), in place of monthly household income, is eligible to apply to Ogen for an interest-free personal loan, so long as monthly National Insurance income exceeds ILS 3,000.

Loan applicants must be between 22-67 in age, and must supply two guarantors (when required).

A:

  1. Any applicant who does not comply with Ogen’s eligibility criteria, or cannot supply guarantors (when required) or the necessary documentation.
  2. Applicants with restrictions on their bank accounts, or whose bank accounts have been restricted over the past twelve months; applicants who are currently insolvent or who have open files against them in the Small Claims Court; or who have inter-bank lending warnings against their name, cannot apply for an Ogen personal loan or serve as a guarantor.
  3. Any applicant who is currently listed as a borrower or guarantor for a separate Ogen personal loan.

A: Loans are repaid via a signed direct debit, approved by your bank.

A: No. It is not possible to be a borrower and guarantor simultaneously.

A: No. It is not possible to be a borrower and guarantor simultaneously. When the loan for which you are a guarantor has been repaid, you can apply for a personal loan.

A: No.

A: The loan process is fully online and digital.

A: Ogen approves and pays out loans within seven working days of receiving all necessary documentation.

A: Via Ogen’s website here.

Intrest-free Business Loans: FAQ

A: A business loan application must contain a business plan prepared and submitted by a business consultant. Ogen works regularly with both independent business consultants as well as MATI and MAOF for this purpose. Ogen cannot accept business plans prepared by accountants, financial advisors, or the loan applicant in person.

A: We provide loans to establish a new business, to expand an existing business, for new staff, marketing expenses and working capital; for purchasing equipment, stock and/or a car or vehicle for the business. We do not provide loans for start-up or high-tech companies or for product R&D.

A: We ask for two guarantors for business loans. In certain circumstances, we may also ask for a third.

Guarantors must meet the following criteria:

  • A clean credit history (BDI Report)
  • At least ILS 5,000 in average net monthly income
  • At least one years’ employment in their current workplace
  • Guarantors may not be married to one another, and may not work for the business applying for the loan
  • Aged 22-67

 

A:

  • The loan confirmation form
  • The promissory note and guarantor agreement
  • The loan agreement
  • Permission to charge your bank account
  • A Know Your Client (KYC) form

A:

  • A scanned copy of your identity card
  • Your small business tax certification (“Osek Murshe”)
  • Profit/Loss Statements for the past 3 years
  • Income statements for your immediate family
  • Proof of your bank balance and details of the last four months’ account activity in all accounts listed under your name (business and personal)
  • A resume
  • Any additional documents which may support your application  

A:

A:

  • Up to ILS 60,000 interest-free to establish a new business or expand an existing business
  • Up to ILS XX,XXX interest-free for working capital loans

A: Between ILS 1,500-2,000

A: Yes, an ILS 500 fee, due when you complete your application.

A:

  • A monthly revenue of no more than ILS 150,000
  • A clean credit history (BDI Report)
  • Applicant must be ages 22-67

In addition, we may assess whether and why your loan is eligible for credit from a donor-funded non-profit.

A: Via a direct debit through your bank.

Contact us

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