1. Description
| Name of the organisation | Israel Free Loans Associations |
| Typology | Loans |
| Description | The Israel Free Loan Association (IFLA) is the largest Jewish interest free loan organization in the world. Since its inception in 1990, IFLA has lent out over $240 million (US) by providing over 54,000 interest-free loans. Currently IFLA lends out over $20 million every year to Israelis. Thanks to proper loan management, we have an average repayment rate of 99.8% throughout IFLA’s history.
IFLA loans help many sectors of Israeli society in numerous ways. They enable Israelis without sufficient means to open small businesses or expand existing ones, help Ethiopian immigrants move out of temporary housing, facilitate student loans to obtain academic degrees, allow ailing Israelis to purchase vital equipment and medicines or undergo operations, assist struggling Israelis get back on their financial feet, and much more. |
| Location | Jerusalem |
| Geographical scope | Israel |
| Experiences in financing eco innovative projects | |
| Instruments | Loans |
| Average investment – amount | Up to NIS 90 000 (Small Business Loan) |
2. Investor Criteria
| Scope of operations – Industry/tags | The Israel Free Loan association accords credit to a large range of people almost without any interests. The small business loan targets israelis without sufficient means to open small business or expand existing ones. |
| Phase of grow | Growth |
| Most important prerequisites for financing a project | |
| Most important barriers that prevent financing | Small business is eligible to the grant as long as its average monthly turnover is not exceeding NIS 150 000. Applicant must be age 22-67. Fore more details on the business loan process: http://www.israelfreeloan.org.il/en/ifla-loans/business-loan-process-step-by-step/ |
| Minimum investment required | Around 25 000 NIS |
| Currently available financial products | Loans |
3. Contact details
| Contact persons / emails | |
| Address and telephone | 29 Rivka Street (Talpiot), Jerusalem 9346143 |
| Web site | http://www.israelfreeloan.org.il |
