Meet the most influential figures in the Jewish world
Bank Hapoalim launches program for small businesses
ByJERUSALEM POST STAFF
July 8, 2012 22:53
In the past three months, it said, Hapoalim Growth has granted NIS 90m. in credit to around 450 small businesses.
Haredim at Bank Hapoalim

Haredim at Bank Hapoalim 370. (photo credit:Amir Cohen/Reuters)

Bank Hapoalim announced new measures to assist small businesses Sunday, promising to double the availability of credit to NIS 2 billion, reduce service fees and provide free support.

The amount of credit available in the bank’s “Hapoalim Growth” fund, launched earlier this year, will increase three-fold to NIS 300 million. Subject to government approval, the bank will also double to NIS 1.4b. its contribution to a special state-guaranteed fund for small businesses.



Be the first to know - Join our Facebook page.


Small businesses will see their service fees halved from NIS 6.5 to NIS 3.25 in the coming year, first-year businesses will be exempt from all basic fees, and free business support will be provided by an external consultation firm.

“Small businesses are the backbone of the economy,” Bank Hapoalim CEO Zion Keinan said. “In a time of economic slowdown, Bank Hapoalim continues to lead with measures that aid these businesses to deal with the many challenges before them.

“As we promised at the beginning of this year, small- and medium-sized business will continue to stand at the center of our attention, and the bank expects to launch further financial and advisory tools to help them achieve growth and prosperity. Small businesses help provide jobs, including in the periphery, and this fact is particularly important given the recent statistics that showed increased unemployment.”

Hapoalim launched its “Year of Small Business” three months ago, establishing the above mentioned funds and services, plus another fund in conjunction with the Manufacturers Association. It said Sunday that it made the decision to increase credit because of high demand.

In the past three months, it said, Hapoalim Growth has granted NIS 90m. in credit to around 450 small businesses.
Relevant to your professional network? Please share on Linkedin

Tags:
  • Bank Hapoalim
  • Prev Article
    MKs appeal sale of Eilat seaport to Israel Chemicals
    Meretz MK Zehava Gal-On
    money
    Your investments: Common mistakes retirees make
    Next Article
    Share this article via
    from around the web
    Related Content
    The Teva Pharmaceutical Industries
    April 30, 2015
    Teva doubles down on Mylan, despite rejection

    By GLOBES, NIV ELIS

    Top Stories
    Israel Weather
    • 8 - 16
      Beer Sheva
      9 - 17
      Tel Aviv - Yafo
    • 6 - 14
      Jerusalem
      8 - 16
      Haifa
    • 11 - 20
      Elat
      9 - 20
      Tiberias