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ISRAEL AT WAR - DAY 427

Ogen – Israel Social Bank

Closed shops on King George Street in Tel Aviv, during a nationwide lockdown, Israel's 3rd. December 29, 2020. (Miriam Alster/Flash90)
January 3, 2021, 5:05 pm
Nonprofit Ogen lends record $50 million to ease small business cash squeeze
Ogen Group hopes to become Israel’s first social bank, as pandemic highlights how traditional lenders prefer bigger, less risky businesses over small enterprises
By Shoshanna Solomon
Self-employed Israelis block a road in Tel Aviv, during a protest calling for financial support from the government, July 11, 2020. (Miriam Alster/Flash90)
August 9, 2020, 3:36 pm
Finance Ministry gives social lender nod for government-backed loans
Ogen will now be able to start giving small businesses, non-profits, loans backed by government guarantees, which will help the non-profit to raise funds
By Shoshanna Solomon
Owners of foodstands at the Mahane Yehuda market protest the closure of their businesses, which were closed down for several weeks in an attempt to stop the spread of the coronavirus. April 25, 2020 (Yonatan Sindel/Flash90)
June 9, 2020, 2:48 pm
As banks refuse to lend, small firms’ crunch highlights lack of credit options
Nonprofit Ogen social bank seeks to fill gap with philanthropy-backed loans, but much more is needed to battle financial squeeze caused by pandemic
By Shoshanna Solomon
The offices of Ogen, in Tel Aviv (Courtesy)
June 1, 2020, 12:19 pm
Social lender raises $30 million for small business loans amid pandemic
Ogen Group says funds will also be used to provide low interest and no-interest loans to nonprofit organizations and unemployed and furloughed workers
By Shoshanna Solomon
An illustrative image of a credit crunch, bancruptcy, recession, economic downturn as coronavirus strikes economies globally (spukkato; iStock by Getty Images)
April 16, 2020, 2:16 pm
As virus strikes small businesses, social bank seeks to provide credit lifeline
Ogen, a nonprofit, takes on added risk to allow hairdressers, tour guides and the like to get loans to tide them over during coronavirus crunch
By Shoshanna Solomon
The offices of Ogen, in Tel Aviv (Courtesy)
September 26, 2019, 5:24 pm
Interest-free lender gets regulator’s okay to expand activities
Ogen wins license to start providing low-interest loans to consumers who have been sidelined by traditional banking system
By Shoshanna Solomon
Illustrative image of a handshake for a bank loan. The Ogen - Israel Social Bank intends to increase the supply of affordable credit for low-income families (Pattanaphong Khuankaew; iStock by Getty Images)
August 20, 2019, 12:05 pm
Israel’s 1st social bank set to offer credit to those who find it out of reach
Ogen, a provider of interest-free loans to low-income borrowers, now seeks to broaden its scope by offering more people low-interest loans as an impact-investment bank
By Shoshanna Solomon
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