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Municipality pushing to energize Jerusalem's economy

It will help small business owners receive interest-free loans

The Municipality of Jerusalem will help local businesses raise up to 90,000 shekels worth of interest-free funding for their business activities and growth.    

The Municipality is the only one that provides assistance to raise the chance of the eligibility of those businesses for funding. The loans, which will be provided by the SparkIL organization, will be given to small businesses operating in Jerusalem via a social loan platform that will be established by the company.   

The process for submitting a loan request will be funded by the Municipality's Business Promotion Division, and will include advice on composing a business plan, editing of content, and selection of imagery. The process is intended to help business owners submit a professional business plan in order to increase their chances of receiving the loan.     

Business owners are invited to submit requests for loans via a form on the municipal website. Their requests will be considered on the basis of their compliance with the criteria.  

It is the first cooperation of its kind in the country between a municipal authority and a social organization to award interest-free social loans. It comes amid the backdrop of the raising of the economy's interest rate, and the step's influence on the ability to raise funds on comfortable terms.     

The mayor of Jerusalem, Moshe Lion, said "The Municipality of Jerusalem is operating tirelessly for the city's businesses in different, diverse and creative ways. The assistance to business owners by working closely with them and providing professional advice for the promotion of their business activity will provide a boost of energy to the local economy and increase its robustness." 

 

To receive additional details and submit a loan request, click here

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