Israel's banking system, including Bank Leumi, Bank Hapoalim, Mizrahi-Tefahot, Israel Discount Bank, Mercantile Bank, International Bank, Masad Bank and Yahav Bank, together with the Jewish Agency, have adopted the Knesset Finance Committee's initiative to establish a special relief fund as part of the war effort.
The fund aims to support reservists and their spouses whose businesses were impacted by the ongoing Iron Swords war.
The fund, with a financial scope of approximately 100 million shekels, is designed to aid self-employed reservists whose businesses suffered due to the conflict. Grants will range from 7,000 shekels to 50,000 shekels per business, depending on the number of reserve days served and the size of the business. Additionally, recipients will receive free professional business consultations.
Eligible for this aid are reservists from across Israel who served at least 60 days during the war and own a business (whether as a sole proprietor, licensed dealer or limited company) with annual revenues of up to 10 million shekels. These businesses must have experienced at least a 20% decline in revenue during the war period.
New businesses established between July 2023 and October 7, 2023, are also eligible for assistance without needing to prove a decline in income. Furthermore, if both the reservist and their spouse own separate businesses, both can apply for aid. Reservists who served 200 days or more are eligible for increased grants.