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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

Strategic lending
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Blended finance
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Financial know-how
How We Do It
Our Impact and Financials
Recent
2024
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

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.

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

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

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.

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.

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)

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.

Sagi Balasha
CEO

Moshe Daniel
Deputy CEO

Eran Butbul
CFO

Eldan Kaye
VP of Development & Partnerships

Moshe Amran
CFO

Yifat David
VP of Marketing

Dina Ben David
HR Director

Oshrat Dalumi
Chief of Staff

Yuval Beck
Head of Business Division

Morit Drori
Non-Profit Division Manager

Joel Copeland
Family & Individuals Division Manager

Simon Cadranel
Chief Risk Officer

Na'ama Ore
SparkIL, CEO

Meira Schwartz
VP of Marketing

Khaled Hassan
Director of Arab Society Economic Development

Elad Lubitch
Legal Counsel
Board of Directors
Ogen - Free Loan Fund
Leadership Team
Board of Directors
Ogen - Social Loan Fund & Keren Shemesh

Adv. Ofir Ozeri
Chairperson of the Ogen Group

Ohad Eini
Deputy Chair, Former Chief Government Appraiser

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

Bashir Fahoum-Jayousi
Advocate, Leader and Activist

Josiah Rotenberg
Entrepreneur, Manager and International Investment Consultant

Chaim Neuman
Senior Manager, Former Treasurer, Tefahot Mortgage Bank

Yair Cohen
Social Entrepreneur and Owner of Avney Derech Real Estate Company

Yishai Tachover
East Jerusalem Regional Director, Gihon Water Company

Samuel Cohen Solal
Managing Director, Sweetwood Capital

Peggy Brill
Private Consultant to Foundations and Non-Profit Organizations

Zvi Feine
Senior Manager in the Non-Profit Sector and Lecturer

Racheli Greenwald
Advertiser, Strategic Consultant, and Businesswoman

Adv. Ofir Ozeri
Chairperson of the Ogen Group

Eli Barkat
Co-founder and Chairperson of the BRM Group

Boaz Raam
Businessman and Social Entrepreneur, General Mills Board Member

Dalia Tal
Senior Lawyer, Lecturer, and Consultant to Meitar Law Office

Daniel Recanati
Founder & CEO of Rhodium

Tal Shlasky
Senior Banking Manager, FinTech Consultant, Lecturer and Board Member

Yair Cohen
Social Entrepreneur and Owner of Avney Derech Real Estate Company

Yoav Chelouche
Senior Manager and Venture Capital Funds Manager

Yael Lipman
Senior Manager, Entrepreneur and Social Investor

Ariel Greenberg
The Edmond J. Safra Philanthropic Foundation.

Linda Benshoshan
Businesswoman
