Spark IL, one of our clients, finally launched one of its activities.
It’s a company created for the benefit of the public, owned by The Jewish Agency for Israel and Ogen – Israel Social Loan Fund Ltd.
Sparkil recently established its new cutting edge entrepreneurial plan designed to mediate loans.
The purpose of this plan is to give interest free loans to businesses in Israel. In fact, the Jewish Agency stated the purpose of this program is to attract American young adults, by generating an innovative social platform meant to assist them, and encourage donors to keep investing in Israel. From the lenders’ perspective, this may help businesses operating in marginalized communities.
This new, cutting edge entrepreneurial plan is subjected to numerous restrictions, as those were revised specifically for our client. Moreover, our legal team encountered and overcame various regulatory challenges, requiring them to step out of their ways for this to succeed.
We were delighted to have played our role in this complex, unique process. Especially since it required our teams to face the regulator while facing large new legal complexities.
Partners Saul Adereth, Ido Shomrony, and associate Lynn Nidaf represented our client.
