Dedicated fund for self-employed and reservists: NIS 50,000 grant

The banking system and the Jewish Agency have adopted the Knesset Finance Committee's initiative and are now launching a special aid fund for reserve men/women and their spouses whose businesses were damaged as a result of the war. The name of the fund: "Independents" and its financial scope is about NIS 100 million. The Self-Employed Fund is designed to help self-employed soldiers and reservists, whose businesses were damaged as a result of the Iron Swords War.

The banks participating in the fund are: Bank Hapoalim, Bank Yahav, Discount, FIBI, Leumi, Mizrahi Tefahot, Massad,  and Mercantile.

The fund, which cherishes the tremendous contribution of the reservists for the State of Israel since October 7, is based on providing financial grants ranging from 7,000 NIS to 50,000 NIS per business, depending on the number of days in the reserves and the size of the business (the full criteria appear on the project's website) and free business support to be given by professionals from various fields.

Those eligible for assistance are reservists from all over the country, who served at least 60 days in the Iron Swords War and who own or are owned by their daughters/spouses a business (exempt dealer, licensed dealer or limited liability company) with a revenue turnover of up to NIS 10 million and who suffered a decrease of At least 20% of the business turnover during the war.

It should be noted that the assistance will also be granted to new business owners, which were established between the months of July 2023 and October 7, 2023, without having to prove a decrease in business income. In addition, if the reservist and the spouse have separate businesses, both will be able to apply for assistance. Reservists with businesses who have served 200 days or more will be entitled to an increased grant.

The aid fund for soldiers and reservists, the business owners, is part of a variety of national initiatives that the Jewish Agency has been leading since October 7, to help rebuild Israel, and part of the package of measures that the banks promoted and are promoting to help the populations affected by the war.

The Chairman of the Jewish Agency, Maj. Gen. Doron Almog: "The men and women of the reserves are the ones who enable the IDF to add to and fight the difficult war that has been imposed on us since the seventh of October and thanks to them and thanks to all the regular and reserve servants, we are here. Each and every one of them left family members, A whole life and work in order to fight for the State of Israel, the one miracle is second to none.

This is our way of expressing our great appreciation for their sacrifice. Great appreciation also goes to the daughters and spouses of the Malay servants who are a central pillar in this campaign and we also owe them thanks.

Dear reservist women and men, we appreciate and love you, this assistance is part of the package we give and will continue to give you. We will stand by your side and support you at every opportunity."

The CEO of the Banks Association, Eitan Madamon, says that quite a few families of independent reservists have mobilized since the seventh of October and left their families and businesses to help all citizens of the State of Israel in the defense of the homeland and the current project is trying to help them recover from the financial blow involved.

"The independent reservists were designated as a group whose level of vulnerability and actual damage, due to the war, was the most significant," said Medmon. "The purpose of the grant outline that is starting these days is to give back to them and help them reduce the economic damages caused by the long reserve service. The grant outline will make the assistance simple and immediate and is available to the families of the reservists in recognition of their contribution to us."