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Financial
Inclusion
in Israel

Our Mission:

Ogen is a financial engine for social impact. Since our inception we have aspired to level the economic playing field in the lending market. We are innovative changemakers in finance and social impact, on a mission of equitable access for all people of Israel.

Who We Are

Social Impact for Financial Wellbeing

Our Core Values

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Strategic lending

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Blended finance

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Financial know-how

How We Do It

  • 2024

    Q1 2024 Investor Report

    Q2 2024 Investor Report

    Q3 2024 Investor Report

    Q4 2024 Investor Report

    2023

    Q1 2023 Investor Report

    Q2 2023 Investor Report

    Q3 2023 Investor Report

    Q4 2023 Investor Report

  • 2020-2021  - Ogen Annual Report

    2021-2022  - Ogen Annual Report

    2022-2023  - Ogen Annual Report

    2023-2024  - Ogen Annual Report

  • Heter Iska Ogen NGO (Ogen 1) 

    Heter Iska Ogen HELETZ (Ogen 2) 

  • Ogen Social Loan Fund Audited

    Ogen Free Loan Fund Audited

    2020:

    2021:

    Ogen Free Loan Fund Audited

    Ogen Social Loan Fund Audited

    2022:

    Ogen Free Loan Fund Audited

    Ogen Social Loan Fund Audited

    2023:

    Ogen Free Loan Fund Audited

    Ogen Social Loan Fund Audited

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Leader of Change Then and Now:

For over thirty years, our mission has been to empower underserved communities. We provide essential credit and resources to individuals, families, small businesses, and non-profits to help them achieve lasting success.

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Ecosystem of Experts:

Our robust network of volunteers includes investment strategists, consultants, mentors to support and educate business owners, non-profit executives and families.

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Unique Credit Portfolio:

Ogen’s credit portfolio is NIS650m ($180m) we have disbursed over 83,000 loans, totaling over NIS2.3 b (~$640m).

Ogen's DNA

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Our History

Founded in 1990 as the Israel Free Loan Association (IFLA), Ogen was initially established to support Russian and Ethiopian mass immigration to Israel. Over the past three decades, Ogen has grown into a leading social-finance nonprofit, providing interest-free loans to over 83,000 borrowers and disbursing over NIS2.3b ($640million) to help individuals and families pursue education, homeownership, and financial stability.

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Nonprofit Financial Engine for Social Impact:

What truly distinguishes Ogen is our ability to leverage philanthropic resources with capital using innovative blended finance models in our mission for economic resilience. By raising funds through bonds, impact investments, and bank credit lines, we expand our impact and bolster credit-denied populations to take control of their financial lives.

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Strengthening the Economy from the Bottom Up:

With our three pillars of focus on: individuals and families, small businesses, and non-profits, we are not just lending a hand, lending a loan or lending our time, but providing the foundation for Israel’s prosperous economic landscape. 

"Life is a loan that one day we must repay with interest;
that interest is our opportunity to leave the world better than we found it.”

- Founder Prof. Eliezer Jaffe (z”l)

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Ogen’s story began in 1990 with the vision of one man, Professor Eliezer Jaffe, founder of the Hebrew University’s School of Social Work and co-founder of its Center for the Study of Philanthropy. Prof. Jaffe was a cornerstone of the evolving nonprofit sector in Israel, establishing the foundations and providing profound knowledge in the field.   During the period of mass Russian and Ethiopian Jewish immigration in the late 1980s, Jaffe visited an immigrant absorption center in Jerusalem. Moved by the great need he observed there, he was inspired to establish a free loan fund, building on the century-old models of free loans in the US. “I brought my children along,” he related. “Busloads of Ethiopian Jewish immigrants, straight off the airplane, had just arrived at the center. I explained to my children that they were witnessing history in the making – the ingathering of the exiles. After we got home I thought to myself – I have to get involved.” Eliezer consulted with friends and colleagues to determine how best to help the immigrants. “We went back to Maimonides’ Eight Degrees of Tzedakah,” said Eliezer. “The highest level of charity is to give a loan or job that will help the poor man become self-sufficient and thereby maintain his dignity.” The Jerusalem Post published an article by Professor Jaffe, laying out his plan. Friends in Israel and several others who lived abroad and read the article were impressed; $20,000 was raised. With these first donations, the Israel Free Loan Association (IFLA) was born. “We started with a table in the middle of a room, with volunteers on one side and loan applicants on the other,” said Eliezer. Before Professor Jaffe passed away in 2017, he had already set in motion the next stages in IFLA’s growth. In 2018 IFLA was rebranded as Ogen, the Hebrew word for “Anchor,” reflecting the organization’s long-standing goal to support marginalized families, non-profits, and businesses whose dreams for a better life had felt hopeless, given the reality of Israel’s economic structure. Professor Eliezer David Jaffe z’’l was a giant in the world of Israeli social work and philanthropy, dedicating his life to the welfare and dignity of the most vulnerable members of Israeli society.

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Sagi Balasha

CEO

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Moshe Daniel

Deputy CEO

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Eran Butbul

CFO

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Eldan Kaye

VP of Development & Partnerships

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Moshe Amran

CFO

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Yifat David

VP of Marketing

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Dina Ben David

HR Director

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Oshrat Dalumi

Chief of Staff

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Yuval Beck

Head of Business Division

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Morit Drori

Non-Profit Division Manager

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Joel Copeland

Family & Individuals Division Manager

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Simon Cadranel

Chief Risk Officer

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Na'ama Ore

SparkIL, CEO

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Meira Schwartz

VP of Marketing

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Khaled Hassan

Director of Arab Society Economic Development

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Elad Lubitch

Legal Counsel

Board of Directors

Ogen - Free Loan Fund

Leadership Team

Board of Directors

Ogen - Social Loan Fund & Keren Shemesh

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Adv. Ofir Ozeri

Chairperson of the Ogen Group

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Ohad Eini

Deputy Chair, Former Chief Government Appraiser

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Uri Jaffe

Director, Volunteer and Non-Profit Division, Tel Aviv Municipality

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Bashir Fahoum-Jayousi

 Advocate, Leader and Activist

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Josiah Rotenberg

Entrepreneur, Manager and International Investment Consultant

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Chaim Neuman

Senior Manager, Former Treasurer, Tefahot Mortgage Bank

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Yair Cohen

Social Entrepreneur and Owner of Avney Derech Real Estate Company

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Yishai Tachover

East Jerusalem Regional Director, Gihon Water Company

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Samuel Cohen Solal

Managing Director, Sweetwood Capital

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Peggy Brill

Private Consultant to Foundations and Non-Profit Organizations

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Zvi Feine

Senior Manager in the Non-Profit Sector and Lecturer

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Racheli Greenwald

Advertiser, Strategic Consultant, and Businesswoman

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Adv. Ofir Ozeri

Chairperson of the Ogen Group

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Eli Barkat

Co-founder and Chairperson of the BRM Group

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Boaz Raam

Businessman and Social Entrepreneur, General Mills Board Member

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Dalia Tal

Senior Lawyer, Lecturer, and Consultant to Meitar Law Office

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Daniel Recanati

 Founder & CEO of Rhodium

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Tal Shlasky

Senior Banking Manager, FinTech Consultant, Lecturer and Board Member

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Yair Cohen

Social Entrepreneur and Owner of Avney Derech Real Estate Company

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Yoav Chelouche

Senior Manager and Venture Capital Funds Manager

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Yael Lipman

Senior Manager, Entrepreneur and Social Investor

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Ariel Greenberg

The Edmond J. Safra Philanthropic Foundation.

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Linda Benshoshan

Businesswoman

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Eylon Penchas

Senior Manager, Investment Entrepreneur and Board Member
 

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