Anchor Group Offers Loans to Individuals and Small Businesses • Will Provide Loans to Those Who Are Denied by State and Banks

The Anchor Group, which consists of five non-profit social financial organizations, announced its success in raising unprecedented donations of NIS 100 million from some philanthropists from Israel and abroad.

The owner of the Barbi Shaul Mizrahi club in a demonstration in front of the Knesset // Photo: Ronen Hershkowitz

The largest donor is an Israeli donor who donated NIS 70 million and prefers to remain anonymous. These donations double the capital of Anchor, which is allocated to loans to families, individuals, small businesses and non-profit social organizations, which have been hit by the economic crisis created by the Corona virus. 

Anchor now offers loans to individuals without interest and without guarantors. Small businesses and nonprofits will be able to enjoy fixed-rate loans of 3% with no guarantors and no deposit. The loan waiting period will be seven business days from the moment the loan forms are fully filed. 

For the victims of the crisis

After raising anchor group capital, NIS 350 million is raised, and it aims to raise another NIS 150 million to reach NIS half a billion that will be allocated to businesses and individuals affected by the crisis. This channel serves as an alternative to banks even for those who do not meet the bank's threshold requirements. 

Anchor currently holds an extended credit license from the Capital Markets Authority, and is on its way to becoming the first non-profit social bank in Israel. The loans will be available from today, online through an anchor website. Through the organizations "Sun Fund" and "Anchor to the House", which are also part of an anchor group, those affected by the crisis can also receive financial support and business mentoring. 

In recent weeks, an anchor group has approached the Ministry of Finance and Economy to be included in the State Loan Guarantee Program for businesses and nonprofits that are in crisis due to the Corona epidemic. 

Israeli Philanthropy

Placing the State guarantee on these loans will allow the anchor to raise additional capital from individuals and philanthropists, Impact investors and institutional entities. 

Sagi Balsha, CEO of Anchor Group, says: "This challenging period has resulted in the greatest demand for credit, and thousands in distress have contacted us. The contributions we have made over the past two months, since the outbreak of the crisis, are an exciting signal of solidarity between Israeli and Jewish philanthropy, reminding us that mutual guarantee still exists in our society. " 

Adv. Ofir Ozeri, chairman of the Anchor Group, added that "since the outbreak of the Corona crisis, more than one million civilians have joined the unemployment cycle, or been expelled to the state, about 54% are self-employed. About 20,000 small businesses were rejected after applying for state guarantee loans. "According to the company, its lost debt rate, despite its target population cut, stands at only 0.7%.

In the third sector, the crisis is equally severe, with 25% of all nonprofits providing essential services to hundreds of thousands of Israelis every day in the fields of welfare, education, health and more - having to stop their activities. 

In recent weeks, even before the said donations were received, Anchor Group has increased and granted emergency loans of NIS 25 million to civil society organizations.