Discount Bank Launches $80 Million Loan Fund for Northern Businesses
Translated & summarized from Calcalist by baba
Discount Bank has launched a NIS 300 million loan fund called "Green North" to support small businesses in northern Israel affected by the war. The loans offer favorable terms and are available until the end of 2026.
The story in 5 lines · by baba
- Discount Bank established a NIS 300 million loan fund for northern businesses.
- The fund, "Green North," supports businesses impacted by the war.
- Loans of up to NIS 1 million are available with minimal collateral.
- Interest rates are prime plus 0.25% to 1.5% with up to seven-year terms.
- Applications are open until December 31, 2026.
Discount Bank has announced the establishment of a NIS 300 million (approximately $80 million) loan fund aimed at supporting small businesses in northern Israel. The fund, named "Green North," will offer loans of up to NIS 1 million (approximately $267,000) to eligible businesses. These loans will require minimal collateral, primarily owner guarantees, and will carry interest rates ranging from prime plus 0.25% to prime plus 1.5%. The repayment period can extend up to seven years, including an optional grace period of up to six months.
The initiative is designed to assist small businesses in the north that have been negatively impacted by the ongoing conflict, facing challenges such as decreased revenue and cash flow difficulties. Applications for loans through the "Green North" fund will be accepted until December 31, 2026.
Assaf Eldar, Deputy CEO and Head of the Banking Division at Discount Bank, stated that the fund's objective is to provide crucial credit to businesses, aiding their operational continuity and contributing to the economic recovery of the region.
