In an appearance on The Jerusalem Post’s “Rebuilding the North” broadcast, Marc Reiss, who heads foreign resident and new immigrant activity at Mizrahi Tefahot Bank, said the bank has both improved its existing financial products and created new products in order to ease the financial burdens of residents of Israel’s North.
Reiss said that the bank has provided bridging and renovation loans to enable individual residents to renovate homes that they haven’t been able to live in for an extended period of time because of the war.
Mizrahi Tefahot has also assisted small businesses in the North that had to close at a moment’s notice by providing large business loans that will enable them to better manage their cash flow.
“These businesses had to stop everything abruptly and were evacuated – things stopped immediately,” he points out.
One new product created by Mizrahi Tefahot, he explained, provides vouchers at discounted prices to businesses that customers can use to purchase their products.
What does the bank enable for northern residents?
The bank is also enabling mortgage clients who are returning to their homes after being away for more than a year to receive all-purpose loans that can be obtained via a quick and straightforward process to enable them to get back on their feet.
Residents whose homes were damaged in the war can obtain bridging loans from the bank with no security while they are waiting for reimbursement from the government.
In addition, new mortgage customers in the North, said Reiss, can obtain mortgages with special benefits in order to encourage resettlement of the North.
“We really are there for clients in times of need,” he concluded, “and we try sincerely to go the extra mile with relevant and value-added products.”
This article was written in cooperation with Mizrahi Tefahot Bank.