Leasing for electrical appliances? Isracard with a new service - Walla! Of money

2021-09-12T07:32:33.273Z

Of money
All articles

Leasing for electrical appliances?
Isracard with a new service

Isracard continues to promote growth engines: Establish a company that will offer credit for the purchase of consumer products at points of sale and innovative models, including leasing for consumer products - consumers will purchase home products on credit and can replace them in the future with new products, financed with new credit, outside the existing framework

Good to know (promoted)

B-Cure Laser - Does It Really Help Knee Pain?

To the full article

Purchase products for home leasing - and at the end of the period choose whether to complete the purchase or "roll over" the credit for the next purchase (Photo: ShutterStock)

The new activity - also in online stores

Isracard's partner in the launch of the venture is a group of well-known entrepreneurs in the fields of consumer credit in Israel.

In the first phase, Isracard will hold 19.9% of the shares in the venture company, with an option to increase its share later on to a rate of 49.9%.

Isracard will, subject to certain conditions, provide financing for the purpose of providing consumer credit, and will also participate in financing the required regulatory equity requirements and an owner loan for the day-to-day operation.

In the first phase, Isracard intends to launch the new activity at a limited number of selected points of sale, alongside online sales sites.

It should be noted that the launch of the venture is subject to obtaining a license from an extended credit service provider from the Capital Market Authority.