Discount Bank Launches $80 Million Loan Fund for Northern Businesses
Translated & summarized from Ice by baba
Discount Bank has launched a NIS 300 million loan fund called "Green North" to aid small businesses in northern Israel affected by the ongoing conflict. The fund offers loans up to NIS 1 million with favorable terms and interest rates, aiming to support economic recovery and growth in the region.
The story in 5 lines · by baba
- Discount Bank established a NIS 300 million loan fund for northern businesses.
- The fund aims to support businesses impacted by the ongoing conflict.
- Loans of up to NIS 1 million are available with favorable terms.
- Interest rates start from Prime + 0.25% with up to a 7-year term.
- Applications are open until December 31, 2026.
Discount Bank announced Tuesday the establishment of a "Green North" loan fund totaling NIS 300 million (approximately $80 million) to support small businesses in northern Israel. The initiative aims to address the severe economic challenges faced by the region due to the ongoing conflict, which has led to business closures, reduced revenues, and cash flow difficulties.
The fund, unveiled at the "Manara 2026 Conference" co-hosted with the Manarav Group, will provide financing and credit solutions with tailored terms. Small businesses can apply for loans of up to NIS 1 million (approximately $265,000) with favorable conditions, including owner guarantees only and no additional collateral required. The loans will carry preferential interest rates, starting from Prime + 0.25% up to Prime + 1.5%, with repayment periods of up to seven years, including a six-month grace period. Applications will be accepted until December 31, 2026.
Assaf Eldar, Executive Vice President and Head of the Banking Division at Discount Bank, stated that the fund is intended to foster economic, community, and personal resilience in the North. He expressed belief in the strength of the region's residents and business owners, emphasizing that the fund's tools will serve as a significant engine for renewed growth and advancement. Eldar added that the "Green North" fund aims to be a genuine, long-term partner in the accelerated rehabilitation and growth of the area, going beyond mere credit provision.
