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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 Impact and Financials
Recent

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.

Meira Schwartz
VP of Credit
Board of Directors
Ogen - Free Loan Fund
Leadership Team
Board of Directors
Ogen - Social Loan Fund & Keren Shemesh

Ohad Eini
Deputy Chair, Former Chief Government Appraiser

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

Peggy Brill
Private Consultant to Foundations and Non-Profit Organizations

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

Boaz Raam
Businessman and Social Entrepreneur, General Mills Board Member

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

Linda Benshoshan
Businesswoman

Eylon Penchas
Senior Manager, Investment Entrepreneur and Board Member
Our Core Values

Strategic lending
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Blended finance
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