Sylvia is a 59-year-old mother of four grown children. She has run her own daycare since 1990. Originally she lived and ran her business in northern Israel but during the recent war she was forced to close her daycare since her clients all evacuated the area for security reasons. During the war Sylvia ran into trouble with the bank. She never had a history of economic difficulties before but the war and the difficult situation in the north had their effect.
She relocated to central Israel and has reopened her daycare this year. During 2010 she became certified by the municipality and is promised clients with payments through the city. Sylvia wanted a bank loan but was unqualified due to her past problems during the war. She took this loan to purchase cribs, toys and additional supplies.
Sylvia knows she has a promised flow of children through the municipality. She hopes to move to a location with a garden attached to her daycare in the future and continue thriving in her business. With her children grown she looks forward to helping them establish their homes and helping them economically.
Koret Israel Economic Development Funds (KIEDF) launched its direct lending program, SAWA, in 2006 to help low-income and unemployed populations within Israel create independent income-generating activities. SAWA currently serves Bedouin women in the Negev, Arab Israeli women in northern Israel and Jewish Israeli women. SAWA loans support a wide variety of small business types including consumer goods sales, grocery stores, animal raising, hairdressing, sewing, and day care. SAWA continues to grow and serve new populations while maintaining a loss rate of less than 3%.