SparkIL, a peer-to-peer lending platform enabling people around the world to support small businesses in Israel, is launching its first Chanukah “Sparkathon” to encourage Jewish schools to invest in businesses that have been struggling since the outbreak of the Swords of Iron War.
In recruiting schools for this competition, SparkIL has identified an opportunity to teach students about core Jewish values like tzedakah and mutual responsibility in a tangible way, while fostering community engagement between students, parents and faculty and cultivating a deeper connection to Israel through their philanthropic efforts.
“Chanukah is a celebration of hope, resilience, and the triumph of light over darkness. These values mirror the mission of SparkIL, which seeks to provide hope and support to small Israeli businesses facing adversity,” said SparkIL CEO Na’ama Ore. “Just as the light of the Chanukah candles brings warmth and strength, impact loans made through SparkIL bring new opportunities and resilience to businesses in need—especially those affected by the current conflict. Moreover, this is a way for communities to see that even the smallest act of philanthropy can be so meaningful to someone. We hope this initiative becomes a longstanding Chanukah tradition for Jewish communities around the world for the foreseeable future.”
Prior to the competition, schools are invited to register to receive a digital packet that contains details, guidelines and resources to ensure that each school has a smooth and successful experience. The winner of the competition will receive a piece of Judaica art from a business in the SparkIL network, a $180 gift card for the winning educator and a pizza party for the winning class.
During the competition, students will be given a specific school code to use when raising funds so SparkIL can monitor how many new lenders students are bringing into the organization’s already robust network. Then, each micro-loan will be counted toward the school’s total.
Parents are encouraged to help their children in this competition and reach out to family, friends and neighbor. Students also have the option to call potential lenders in their circle, discuss the competition at their synagogue and document their efforts on social media.
The SparkIL platform provides a unique avenue for cultivating Israel-Diaspora connections by enabling individuals across the world to directly support the small business of their choice in Israel. For little as $36, 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. The minimum investment for Israeli lenders is a loan of NIS 50.
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. The goal is to make a real, measurable and continuing impact on underserved populations across Israel. Many of the current business owners seeking a loan are Israelis who have been affected by the war, including reservists and evacuees.
Lenders begin the process by exploring various business opportunities that speak to their aspirations, passions and values. Choosing their loan recipient empowers them to make an impact on Israeli society. 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.
To learn more about the competition and register, visit: https://www.sparkil.org/sparkathon-light-the-way-for-israel.
