Especially designated for new immigrants, the New York Fund grants loans of up to NIS 200,000 for opening or developing a small business of any kind.
The fund was established by the Jewish Agency for Israel and the UJA Federation of New York.
Loan amounts and terms*
- Maximum Loan Sum: NIS 200,000
- Type of Investment: up to 30% of working capital as part of an investment plan.
- Interest: Prime + 0.6% interest
- Payment period: 6 years (one year grace)
- Securities: Fund guarantee: up to 95% of the loan (average guarantee: 60%).
The remaining percentage should be supplied by the entrepreneur according to the fund’s approval committee and the bank’s requirements.
- The loans are given through Bank Otzar Hachayal.
- Sometimes the applicant is requested to undertake a business training course as a requisite to receive the loan.
*Subject to possible changes, as well as all the figures, terms and conditions quoted on this page.
Who is entitled?
- Immigrants from any country who received immigrant status up to 10 years ago.
- Immigrant women.
- Kazakhstan and Ethiopian immigrants, without time limit.
The New York Fund is administered by an independent public committee whose decisions are taken based on business planning and personal interviews with the entrepreneurs.
Mr. Amir Sznajderman
Manager of Economic Development and Loan Fund Unit
The Jewish Agency for Israel
48, King George St.