Thousands of small businesses along the Gaza border have been closed or had to completely halt their activity since the eruption of Israel’s “Operation Swords of Iron.” A new initiative called Support Business IL can help them endure these difficult days by providing immediate grants, subject to a quick application procedure.
The fund will focus on small businesses within a range of zero to seven kilometers from the Gaza border. Small businesses that qualify for grants will receive the funds within three business days from the date of submitting the required application with the required details and documents, and the fund’s approval. Grants will vary between 5,000 NIS ($1,235) and 20,000 NIS (nearly $5,000) depending on each business’s turnover and their meeting application criteria.
The fund was initiated by Shva (Automated Banking Services Ltd.), an Israeli public company that operates the national debit card and ATM payment systems; the Jewish Agency for Israel, the world’s largest Jewish organization, representing the global Jewish people with extensive experience working with Israeli society; Israel Venture Network, which focuses on social entrepreneurship and investment; and Klirmark Capital, an investment fund management company. These four organizations joined forces to reach out and assist businesses and harness donors from Israel and around the world.
Regarding the fund’s launch, the partners jointly stated: “Given the plight of businesses in the Gaza border area, we decided to join together to extend a lifeline to the businesses that are the first link in the area’s economic food chain—businesses that drive the local economy, as well as the national economy. This combination of forces represents a connection between the business sector, Israel’s financial infrastructure, and the infrastructure of the entire Jewish people and Israeli society so as to maximize our efforts to assist businesses in the south.”
Provision of the grant is subject to the fund’s grants criteria; the availability of funds; and the absence of any legal or other impediments according to the law. The fund is not obligated to make grants, even if grant criteria has been met.
Grant applications can be sent to: www.support-business-il.com/.
