Member access

4-Traders Homepage  >  Shares  >  TEL AVIV STOCK EXCHANGE  >  Bank Leumi Le Israel BM    LUMI   IL0006046119

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Bank Leumi le-Israel Ltd. : Leumi launches the "Leumi Business Fund", Israel's largest fund for small and medium businesses - totaling NIS 3 billion

05/07/2013 | 09:25am US/Eastern
Leumi launches the "Leumi Business Fund", Israel's largest fund for small and medium businesses - totaling NIS 3 billion
Bank Leumi announced today the launch of 'Leumi Business Fund' totaling NIS 3 billion - with preferred terms, fast approval track and without unnecessary red tape

The fund is fully owned by Leumi, with no government guarantees. This fact enables customers

the fastest approval track that exists in the system today - within 14 days only.

The Fund is intended for business owners, who are customers of all bank: it grants loans on attractive terms, with a collateral requirement of only 25%. The loans are granted for amounts from NIS 300,000 to NIS 1 million, at an interest rate of Prime + 1.9% per year, with a repayment period of up to five years and an option to defer payments (Grace) for up to one year. The loan process is carried out through an external credit committee (the customer selects one of five companies) and is submitted to the branch for approval. The Fund is intended for small businesses, corporations and licensed dealers, with a turnover of between NIS 1 million and NIS 10 million a year, and a bank indebtedness of up to NIS 5 million. The Fund is primarily intended for businesses with at least one year of existence - but in special cases businesses in the set-up stage may also apply.

Rakefet Russak Aminoach, Leumi President  & CEO: "The launching of 'Leumi Business Fund' is in accordance with Leumi's view that SME's are the core of the economy and its key growth engine. The Fund, totaling NIS 3 billion, will allow credit to be granted on a fast track and at preferential terms. We believe that this move - in addition to its contribution to customers - will also contribute to the entire Israeli economy by encouraging growth and increasing competitiveness."

distributed by
React to this article
Latest news on BANK LEUMI LE ISRAEL BM
01/29 BANK LEUMI LE ISRAEL BM : Stifel and Leumi Partners Sign an Investment Banking C..
01/07 BANK LEUMI LE ISRAEL BM : New from Leumi Digital Touch: A New, Advanced Mobile A..
01/05 BANK LEUMI LE ISRAEL BM : Leumi Allows Customers to Open a Bank Account via the ..
2014 BANK LEUMI LE ISRAEL BM : Leumi Trade selected as "Best Online Trading Site in I..
2014 BANK LEUMI LE ISRAEL BM : U.S. Fines Israeli Bank $270 mn in Tax Evasion Case
2014 BANK LEUMI LE ISRAEL BM : Israel's Bank Leumi Settles U.S. Tax Charges For $400M..
2014 BANK LEUMI LE ISRAEL BM : Signs Arrangement with U.S. Authorities Related to the..
2014DJBank Leumi Settles Tax Evasion Allegations
2014DJIsrael's Bank Leumi to Pay $400 Million to Settle Tax-Evasion Allegations in ..
2014 BANK LEUMI LE ISRAEL BM : The Banker Magazine Announces: "Leumi - Bank of the Ye..
Advertisement
Chart
Duration : Period :
Bank Leumi Le Israel BM Technical Analysis Chart | LUMI | IL0006046119 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF