The Bank of Israel has published terms for extending the program of free deferment of loan payments for businesses operating in the north of the country.
Under the plan, businesses with an annual turnover of up to NIS 25 million will be able to defer loan payments for an additional three months without paying fees or interest.
The maximum amount of deferred payments is NIS 2 million. Deferred payments will be carried forward to the end of the loan repayment term.
The program covers 300 communities in the north, including Haifa. To receive a deferment, you must submit an application for compensation from the tax office submitted after May 1, 2024, or a certificate from an auditor or tax consultant indicating a decrease in turnover of 25% or more in the first three quarters of 2024.
However, businesses whose loan payments have already been deferred for 9 months will not be able to participate in the program.