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Innovation and Development
OGEN
Promoting economic inclusion in Israel involves facilitating access to low-interest loans and mentoring for modest families and small businesses. It supports access to financial resources and creates economic opportunities for borrowers often discriminated against by traditional lenders.
OGEN: Promoting Economic Inclusion and Development in Israel
OGEN is a non-profit organization dedicated to promoting economic inclusion and expanding opportunities in Israel. It provides loans and economic mentoring to modest Israeli families, middle-class households, small businesses, and other non-profit organizations.
The aim is to support financial stability and foster economic growth across diverse sectors of Israeli society.
Loans and Terms
OGEN provides loans at affordable rates, either interest-free or with low interest. These loans are aimed at borrowers who have limited access to credit and are sometimes discriminated against by commercial lenders.
Coaching and Mentoring
In addition to loans, OGEN offers coaching and mentoring, ensuring that the communities supported by OGEN not only have access to credit but also the financial tools and knowledge to grow and thrive.
History and Impact
Initially established as the Israeli Free Loan Association (IFLA) in 1990, OGEN has granted approximately 70,000 loans, totaling 1.35 billion shekels over the past three decades. OGEN's ability to underwrite and manage loans for borrowers often considered high risk has resulted in a loan default rate of just 0.7%.