In collaboration with Mizrahi Tefahot
The Iron Sword War continues to take a toll on the Israeli economy, particularly on business owners who have been called up for reserve duty. Many of them packed a bag and issued Order 8 at the outbreak of the war, leaving the business partially or occasionally, even at a complete stop. For small and medium-sized businesses, which move the wheels of the Israeli economy in normal times, the lack of a steady cash flow may endanger the continued existence of the business. Understanding the exceptional situation, Mizrahi Tefahot Bank decided to embark on a series of special benefits for business owners who are in reserve service and are coping with economic uncertainty.
Shavei Shemer, VP and Head of the Bank's Retail Division, said:
"Business owners and self-employed people from all over the country have been drafted into the reserves and have been at the forefront of the fighting for more than two months.
Apart from the difficult personal and family cost, there is also a heavy economic price, when the business they own is completely shut down or only partially operational.
Mizrahi-Tefahot was enlisted to assist the reservists through a package of financing solutions, and personal guidance from experienced bankers."
Reserve Business Loan
With the outbreak of the war, the bank launched a series of special benefits for all its customers, which included loans and grants to businesses in conflict settlements, deferral of interest-free payments, mortgage benefits, and the establishment of the digital business platform, Orange. Israel.' Now, after weeks of fighting, the bank is launching a special benefits plan for reservists who left behind not only a home and family, but also a business. For businesses with cash flow difficulties, the Bank offers an immediate loan of up to NIS 50,50, without interest and linkage for a year, in line with the extent of the negative impact on business activity.In addition, it is possible to increase the credit limit of the business, in accordance with the existing facility, and up to NIS <>,<>.
Loans and assistance from funds
The bank offers a designated loan to business owners in reserve from the state-guaranteed fund, which is offered at an attractive interest rate in the 'Iron Swords' track. In addition, business owners serving in the appointed order will be able to avail themselves of the "North-South" fund for businesses, established by businessman Stef Wertheimer and other private entrepreneurs. These loans are provided on favorable terms, as a result of cooperation with the bank.
Click orange for business
Platform "Orange. Israel," which the bank established for businesses at the outbreak of the war, is now expanding for the benefit of business owners serving in the reserves, and includes a designated area - "Orange. Reserve". The digital platform will offer a private domain for each business, with contact information, a link to the website, Facebook or Instagram business. "Orange. Reserves" will help connect businesses with potential customers and expand the circles of activity. You can easily join the complex through Mizrahi Tefahot's website or app.
"Orange. Reserves" will help connect businesses with potential customers and expand the circles of activity, Photo: GettyImages
Bringing shopping to the customer
In addition, the bank will also provide the 'Shopping Trax' trucks for the benefit of reservists' businesses. As part of last month's activity, the trucks offered the products of businesses from communities in the line of fire in the south and north in a happening that took place in cities across the country and attracted more than 50,<> buyers. Following the success of the activity, the Bank decided to offer a "Shopping Trax" outline for businesses whose owners are recruited to the reserves. The exact locations of the trucks appear in the designated area, "Orange. Reserve" on the bank's website.
Personal Guidance
Mizrahi Tefahot believes that the way to get through any complex period will be through personal and direct contact, and therefore the Bank provides the benefit of business owners who serve in the reserves with the close service of an expert banker, who will assist in finding solutions, financing options and assistance in continuing operations.
Business owners, have a question? Mizrahi Tefahot is by your side at the Business Emergency Line, Tel. *6760
** Subject to bank terms. Details of the terms of the benefits appear on the Bank's website on the "Benefits and Relief for Reservists" page
The provision of any type of credit is subject to the discretion of the bank. Failure to repay the loan may result in delinquent interest charges and execution proceedings
In collaboration with Mizrahi Tefahot