Ogen, Israel’s only provider of interest-free social loans, has announced a major increase in the Yuval Fund, with the aim of providing additional interest-free loans to Israeli reservists and their families over the next year. Named in memory of fallen soldier Yuval Silber, the fund represents a lifeline for the thousands of families financially impacted by October 7 and the war that followed.
In response to the unprecedented demand for assistance, Ogen has already distributed over 3,500 loans totaling $78 million through various initiatives, including 400 loans and over $4 million to reservists through the Yuval Fund. Many reservists have served for more than 200 days, with their families facing the emotional and practical challenges of running their households alone, often with great anxiety as their loved ones carry out combat missions, risking their lives.
With a 250 percent increase in loan applications from reservists, the Yuval Fund’s new goals recognize the urgent financial needs of those serving on the front lines while trying to provide for their families back home.
The Yuval Fund offers targeted, interest-free loans of up to NIS 40,000 (approximately $8,200) to reservists who have served at least 30 days since the start of the conflict. These loans, with no guarantor required and a five-year repayment period, are designed to provide immediate financial assistance, helping reservists manage mortgage payments, daily living expenses, and unexpected expenses while they serve their country.
The fund was established following the tragic death of Yuval Silber, a reservist killed in action in November 2023. The fund was initially established with a donation of half a million shekels (approximately $138,000) from the Peled and Scharf families, including Efrat Peled, CEO of the Arison family’s investment arm. Peled, deeply moved by the loss of her son Yuval’s best friend, sought to create a meaningful legacy in his honor.
The fund has grown rapidly to support reservists facing financial hardship, with total contributions now exceeding NIS 13 million (approximately US$3.5 million).
“Israeli reservists are the backbone of our national defense, and in these difficult times, it is our responsibility to support them and their families. The Yuval Fund represents our commitment to supporting those who serve our country, ensuring they have the resources they need to focus on their vital role without the added stress of financial hardship. We are grateful for the generous contributions of the Peled, Scharf and Arison families, who have made this fund possible. Together, we are building a stronger, more resilient community that honors the sacrifices of our brave soldiers and their families,” said Eldan Kaye, Ogen’s vice president of development and partnerships.
Yuval’s family and friends shared their thoughts at the Ogen conference held yesterday in Tel Aviv. The conference focused on addressing the economic challenges posed by the ongoing “Iron Swords” war and exploring solutions to support affected communities, such as evacuees, reservists, farmers, and small business owners.
“Yuval was a true hero, and we wanted to create a memorial that reflected that… We quickly realized that we wanted to commemorate Yuval in a way that fit his strong, dynamic, and uplifting personality. We wanted something that would truly have a positive impact. That’s when we heard about Ogen. After some research, we realized that this was the organization that could help us realize our desire to honor Yuval,” Shira Silber, Yuval’s sister.
“The goal is for the loans to remain sustainable for years to come, as current reservists repay the funds, allowing them to be passed on to the next generation of those who give so much… We are continually moved by the stories of how this fund has made a difference. We simply want to continue and expand the fund further. We hope to leave a lasting memorial that transforms Yuval’s sacrifice and tragedy into something profoundly good, that continues to grow and support the reservists who were there for us in our time of need,” Tomer Peled, Yuval’s close friend.
Ogen is a pioneering nonprofit social finance leader committed to promoting financial well-being, inclusion and opportunity for the people of Israel.
Caroline Haïat
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