Raising credit and loans guaranteed by the State
Accounting firm - branches in Tel Aviv and Hadera.
The Economic Department at Barsky, Berger & Co. CPA specializes in submitting credit applications to banks and the various funds, in their customary format for their convenience, and for the benefit of the client.
There is a team of experts employed in the Economic Department of Barsky, Berger & Co. CPA who are very familiar with the banking system. In many instances the customer will benefit from the added value that accompanies the preparation of the credit application.
Often, while preparing credit applications, we learn that the credit management and assets of the business require upgrade and improvement. In such instances we ensure that the client receives a number of informed recommendations to manage the company’s finances, utilize credit and save overheads.
It is generally known that government incentive funds have been established within the context of the State’s efforts to contribute to the Israeli economy. The purpose of these funds is to assist different types of Israeli businesses by providing them with state-guaranteed loans. The funds include the Small & Medium Business Encouragement Fund, the Koret Fund and the Loan Fund for Exporters.
In order for any of the funds to approve and recommend a state-guaranteed loan, it is necessary to submit a reasoned application and complete an extended questionnaire that includes reference to existing and forecast financial data, including preparation of a business plan, the attachment of information regarding existing bank credit, client and supplier credit and considerable additional data about the business.
Each application submitted to government encouragement funds is examined by external economists on behalf of the Fund, by means of analyzing the data submitted, visiting the business, an interview and, finally, a recommendation for approval or rejection of the application.
Our office will undertake the complex preparation of the application on your behalf, submit it to the Incentive Fund and remain in contact with the economists assigned to examine it. It should be noted that applications are often rejected by the fund since there was no external professional who could explain and justify the solvency and growth of the business, and why it is justified to approve the loan from the fund – including the prospect of future repayment. This service is performed by our office most professionally and with considerable success.