Nonprofit Ogen lends record $50 million to ease small business cash squeeze
Sagi Balasha, the CEO of Ogen, formerly known as the Israel Free Loan Association (IFLA) (Courtesy) According to a report by the Finance Ministry, small businesses are still struggling to get loans via the banks. According to the data, Ogen said in a statement, businesses that generate up to NIS 10 million ($3.1 million) in revenue, “which are the beating heart of Israel’s workforce and generate more than 35% of GDP,” actually received 0.6% less bank credit in the last three months of 2020 as compared to 2019. Formerly known as the Israel Free Loan Association (IFLA), Ogen was founded i...
Source: timesofisrael.com