To slow the spread of the coronavirus and save lives, Israel has essentially shut down. For the past three weeks, schools, kindergartens, offices, restaurants, stores and public transport have been in total lockdown. New restrictions are added every couple of days.
The effects of the crisis on Israel’s economy are already severe. Over a million Israelis, 24% of Israel’s work force, are now unemployed.
Israel’s Finance Ministry forecasts losses of ILS 90 billion ($24 billion) over the coming weeks. Small businesses, self-employed people, freelance and shift workers are especially struggling.
- Ogen is fully serving our borrowers while our team is restricted to working from home
- Any Ogen borrower (11,000 in total) who requests loan relief is receiving a reduction in monthly repayments for the next 3 months
- An emergency loan track has been added to quickly approve loans of ILS 100k ($25k) to small businesses fighting to survive
- A guarantor-free emergency loan for at-risk non-profit organizations was launched this week (in partnership with the Jewish Agency for Israel)
- Ramped-up emergency mentoring for both small business owners and non-profit CEOs is being provided by Keren-Shemesh (part of the Ogen Group)
While demand for loans is increasing daily, Ogen has lent out nearly all available funds.
At the same time, we are actively providing loan relief for many borrowers who have been laid off.
As a result, we actually have ILS 1 million ($250,000) less to lend each month, at the precise moment that more and more people are in need. At the current rate, within 30 days we may have no available funds to continue lending.
We need your continued support to not turn people away at their time of need.
General donations will go directly towards interest-free loans to low-income Israeli individuals and families facing this sudden financial emergency. To learn more about Ogen’s work lending to and mentoring small businesses and non-profits, please contact us here.
Donate Now !
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Contributions can be made via:
Checks should be made payable to “Ogen – Israel Free Loan Fund” and mailed to:
Ogen – Israel Free Loan Fund
We’re grateful for every gift. In this current “work from home” climate, donations via credit card or bank transfer are the best route to ensure your support gets through. If you send a check, please let us know by email so we can track it.
Checks should be made payable to “British Friends of Ogen – Israel Free Loan Fund” and mailed to :
British Friends of Ogen – Israel Free Loan Fund
c/o Mr. Kenneth Keller,
25 Lodge Avenue
Checks should be made payable to the “Canadian Friends of Ogen – Israel Free Loan Fund” and mailed to:
Canadian Friends of Ogen – Israel Free Loan Fund
c/o Mr. Mark Borer
570 Bay St.
Toronto, ON M5G0B2