The main obstacle encountered by most social impact enterprises is a credit crunch. LivinGift wishes to solve this problem, by offering zero-interest loans to social impact enterprises through crowdfunding.
The Israeli-based platform is now open for applications for all forms of organizations: non-profit organizations, NGOs, for-profit companies and cooperatives. Registration is open to social impact enterprises from all sectors: health, education, animal protection, social impact technologies, environment, support for disadvantaged populations etc.
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The platform will be launched this upcoming April, in both English and Hebrew. LivinGift’s Public Advisory Council headed by Prof. Meir Heth, previously Commissioner for Banks, Chairman of the Tel-Aviv Stock Exchange, Chairman of Bank Leumi and Chairman of Teva.
The rating for ventures, will be performed by the international rating agency D&B. Social impact enterprises seeking to get a loan from LivinGift, will have to show double impact strategy: social or environmental impact, alongside a sustainable and profitable economic model and a fixed income.
The platform team together with the Public Council, will evaluate the social impact and credit rating of every social impact enterprise wishing to join LivinGift. Those rated in the top five will get marketing assistance and public relations.
Shiry Eden, LivinGift founder, said: “We believe that significant social problems can only be solved over time by organizations that have a sustainable economic model. It is not a new idea for the Jewish people: the traditional Jewish charity funds – GAMACH – works on the same main idea of zero-interest loans to those in need.
The highest level of justice charity by the RAMBAM is giving to those in need a job or a loan, that allows them to provide their families with dignity. In LivinGift, we use technology to accomplish those ideas”.
