Mercantile Bank Offers Financial Relief to Customers: Interest-free loans and credit extensions

In response to the ongoing impact of Operation "With a Dog", Mercantile Bank has announced a series of financial relief measures for private and business customers affected by the conflict. The bank is fully adopting the Bank of Israel’s national relief outline and expanding it with customized benefits to address the evolving needs of its clientele—including reserve soldiers, families whose homes were damaged, and Israeli citizens delayed abroad.

The initiative aims to offer financial stability and peace of mind during this challenging period, according to the bank.

Key Relief Measures for Individuals and Businesses

Among the relief measures announced:

• Interest-Free Balloon Loan:
  Private customers whose homes have been rendered uninhabitable are eligible for an interest-free loan of up to ₪100,000 for a period of up to six months.

• Automatic Credit Limit Increase for Small Businesses:
  Small business customers will automatically receive a temporary credit limit increase of ₪2,000 or 15% of their current credit line (whichever is greater), without the need to apply, and at no additional interest or fees.

• Bridging Loans for Businesses:
  Businesses in need of urgent liquidity can access:

  • A six-month bridging loan of up to ₪150,000 at prime +1% interest.

  • A longer-term installment loan of up to ₪100,000, repayable over 60 months, at interest rates starting at prime +1.5%.

• Special Loans for Reservists:
  Reservists with existing mortgages are eligible for the “First Step” loan of up to ₪150,000, with a highly preferential interest rate of prime minus 3%.

Dedicated Support Hotline

Mercantile Bank has also established a dedicated service center for customers whose homes or property have been damaged or who are currently stranded abroad. Assistance can be obtained by calling 076-8060740.

Commitment to Stability and Support

Vered Avitan, Director of Mercantile’s Retail Division, emphasized the bank’s continued commitment to its customers during times of crisis:

“Mercantile Bank is attentive to the needs of our customers not only during routine periods, but especially in times of hardship. The outline we have formulated provides a broad and customized response to individuals and businesses alike, helping them cope with the economic challenges of the current situation. We will continue to stand by our customers with responsibility and sensitivity, and we hope for a swift return to economic stability.”

The bank joins several other financial institutions across Israel in offering emergency support in the wake of the ongoing military operation, reinforcing the central role of the financial sector in national resilience.