New Yorkers had the opportunity on Sept. 15 to meet the owners of several small Israeli businesses that have navigated the deep disruption of their operations during the ongoing Swords of Iron War.
The business owners who visited New York have received assistance in the form of emergency loans from SparkIL, a peer-to-peer lending platform that enables lenders across world Jewry to support the small business of their choice in Israel. Since the Oct. 7 attacks, SparkIL has rallied more than 2,000 microlenders from around the world to contribute a total of about $5.5 million to over 300 businesses.
Attendees of the Sept. 15 event learned how they could become part of a growing movement of micro-lenders fostering financial resilience and growth, and they experienced the vibrant energy of Israeli entrepreneurs who are part of the SparkIL network of loan recipients. The Israeli business owners at the event included those from Oryosss, a cafe chain with two locations in the Gaza Envelope that has experienced significant physical, economic and moral challenges due to the owner’s service in the IDF reserves; Hoshen Judaica, which provides opportunities for artists with special needs; B-Green, a beekeeping business that before the war had already seen broader challenges given that the honey bee is disappearing at an alarming rate from the world; and Hooga, a business specializes in creating engaging and aesthetically pleasing content that fosters connection among families, friends, and communities.
“For nearly a year, countless business owners in Israel have had to accept the new normal of not only halting their operations but being evacuated from their homes and in need to reinvent themselves,” said Na’ama Ore, CEO of SparkIL. “That is why we have decided to harness the passion and generosity of both Jews around the world and Israelis who are eager to help, empowering them to become social lenders through our platform. Each loan represents the importance of mutual responsibility as an Israeli society and as a Jewish people to support each other.”
Or Shukron, the owner of Oryosss, shared, “The cafe was open for a month and a half, and then came October 7, and my two businesses were shut down. For me, it was a total financial crash. It was the end of the world. Thanks to SparkIL, I really managed to preserve this place and reopen it. At the beginning of the war, I was certain that I was going to close both of my coffee shops despite all the investment and despite all the goodwill to take care of my community. Thanks to the SparkIL loan, I was able to support myself financially and reopen my businesses.”
Established in 2022 in partnership with The Jewish Agency for Israel and The Ogen Group, SparkIL is a first-of-its-kind platform that enables users to participate in crowdfunding interest-free loans that aim to make a real, measurable, and continuing impact on underserved populations across Israel. For a loan as small as $25, lenders in America and worldwide who are passionate about Israel have a tangible, on-the-ground way to help the Israeli people at their darkest hour.
Lenders begin the process by exploring various business opportunities that empower them to make an impact on Israeli society which speaks to their aspirations, passions, and values. After repayment of their loan, lenders can choose to reinvest their money into other worthy businesses — ensuring that their initial loan has ripple effects indefinitely — or to withdraw their funds from the platform.
“When the founders of SparkIL launched the platform in 2022, we rooted the initiative in the global Jewish people’s sense of mutual responsibility and aspired to secure a vibrant Jewish future for generations to come,” said Amira Ahronoviz, CEO and Director General at The Jewish Agency as well as the Chair of the Board of SparkIL. “Today, it is clearer than ever that SparkIL is powerfully advancing these values and objectives—by forging connections between Jews around the world who are yearning for ways to directly support the Israeli people during their moment of greatest need, and Israel’s small business owners who are facing immense adversity and working tirelessly to make ends meet during the war. In New York, to witness those same business owners give an American audience a living, breathing picture of their experience was nothing short of magical.”
Sagi Balasha, CEO of The Ogen Group, said, “It was very exciting to see at the event how SparkIL has managed to make it this far. From the Israeli entrepreneurs who we brought to New York, to donors, to the potential lenders who were in attendance, the wide array of activity and enthusiasm among the crowd demonstrates the growing number of individuals across world Jewry who are becoming active daily partners in this initiative to support Israel’s small-business owners—at a time when they need us more than ever.”
Robin and Richard Galpern of Richmond, Va., visited Oryoss and made an initial loan over the phone while they were in Israel. Later, they decided to go bigger for their daughter Sabrina’s bat mitzvah, pre-purchasing 100 gift cards of $25 each for their daughter to distribute on her big day.
“We’re a philanthropic family and we live that wholeheartedly,” Richard Galpern said. “This is a chance to expose her friends to the act of giving even if they may not have the means to do so right now. It taps into the philanthropy of the next generation.”
For anyone interested in supporting a small business in Israel through an investment as low as $25, visit: https://www.sparkil.org.
