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SparkIL loans boost Israeli small businesses, provide avenue for rebuilding Israel after Oct. 7

The peer-to-peer lending platform’s Emergency Loan Fund is helping sustain businesses until the return of more normal times, while also supporting businesses that have adapted their operations to address pressing needs in Israeli society.

Business owners Yogev and Yuli at SparkIL loan recipient Yogalach Café in Pardes Hanna. The cafe is preparing free vegan meals for IDF soldiers during the war. Photo courtesy of SparkIL.
Business owners Yogev and Yuli at SparkIL loan recipient Yogalach Café in Pardes Hanna. The cafe is preparing free vegan meals for IDF soldiers during the war. Photo courtesy of SparkIL.

During the past two months, hundreds of Israeli small businesses have received much-needed assistance from the Emergency Loan Fund established by SparkIL, a peer-to-peer lending platform that enables individuals across the Jewish world to support the small business of their choice in Israel.

For a commitment as small as $25 through SparkIL, American lenders have a tangible way to boost rebuilding efforts in southern Israel in the aftermath of the Oct. 7 Hamas terrorist attacks.

Launched in early December, the loan fund offers up to NIS 100,000 (about $27,000) in assistance per business at a time when the economic conditions of wartime are creating an unprecedented strain on their operations, especially given the severe personnel shortage resulting from the 360,000 reserves called up by the Israel Defense Forces.

The owners of businesses such as Construction with Daniel and Communicating Together are on active reserve duty, meaning that SparkIL loans help sustain the businesses until the return of more normal times.

Businesses located in the Gaza Envelope need loans to cope with the devastation in their region following Oct. 7. Before the war, Natan’s Animation Studio in Kibbutz Nir-Am invested money in rebranding and renovating its office space. However, due to the current circumstances in the area, the studio cannot use the renovated space, resulting in financial loss. In Sderot, a bar known for its toasted menu items, colorful shooters, and lively atmosphere has been closed since the war broke out and sought a loan to pay salaries and acquire new inventory.

“With small business owners hurting, these loans transform Israelis’ hurt and pain into hope,” said Na’ama Ore, CEO of SparkIL.

SparkIL loans also strengthen the Jewish state’s quest to rebuild by supporting businesses that have adapted their operations to address an array of pressing needs in Israeli society during the war. The Euphoria pizzeria has been preparing and donating pizzas to IDF soldiers, Yogalach Café is preparing free vegan meals for the troops, and Robin Food has prepared more than 10,000 nutritious meals for soldiers and evacuees.

Meanwhile, Olive Tree Tours has its sights set on Israel’s post-war economic revival. The business has identified an opportunity to organize tours to regions that were previously under threat, emerging as focal points for both domestic and international tourism. Its loan from SparkIL is supporting the development of training programs while also helping the business align with the positive trajectory expected in the post-war Israeli tourism industry.

For more information about supporting a small business in Israel through SparkIL, visit: https://www.sparkil.org.

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