An additional 2.7 billion has been approved in favor of business loans

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The Finance Committee approved: An additional NIS 2.7 billion for the state guarantee in light of the Corona crisis, which will be leveraged up to an additional NIS 18 billion in favor of loans to small and medium-sized businesses in light of the Corona crisis

The Finance Committee, headed by MK Moshe Gafni, this morning (Tuesday) approved the provision of an additional NIS 2.7 billion as a state guarantee, in favor of the general track in the ‘Aid Fund for Small and Medium-Sized Businesses due to the spread of the corona virus in Israel’.

The amount will leverage the provision of loans in this route, by the banks and other financing entities, in an additional amount of up to NIS 18 billion, for the benefit of businesses.

During the discussion, the committee’s chairman and members criticized the non-utilization of various parts of the assistance programs, and the committee called on the Ministry of Finance to act more effectively within the various amounts approved to deal with the crisis.

According to the data submitted to the committee, up to 4.10, 87,133 loan applications were submitted for the regular track, of which 83,133 applications were considered and 51,287 (62%) were approved, totaling approximately NIS 17.8 billion. With an average loan of NIS 348,000.

As part of the increased route, for businesses at risk, 3,401 applications were submitted by 4.10, of which 2,624 applications were processed, and 2,283 (87%) were approved, totaling approximately NIS 1.3 billion. When the average loan is NIS 569,000.







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