FAQ
We want to SPARK economic growth among the periphery of Israel – country code IL.
100% of your loan goes to the business or businesses of your choosing.
You will begin to receive monthly repayments after the campaign ends. The balance can be seen in you SparkIL account. SparkIL does not guarantee repayment but works diligently to ensure the borrowers pay back their loan in full.
Each business goes through a thorough review process to ensure the lowest risk possible in providing a loan. The members of the committee are both professionals and lay leaders with expertise in banking, finance, and underwriting.
Loans are interest free, but we reserve the right in the future to collect a one-time fee from the borrower.
The SparkIL team works closely with the borrowers to promote the campaign in various mediums to ensure the loan is fully funded. In some cases, there are matching dollars that will be used if a campaign needs a boost. Most borrowers will still be able to use the money even if the loan is not fully funded.
