Laura is a single mother of three who has worked in Eilat selling jewelry and fashion accessories on the beach strip since 2000. She has been a wise and successful businesswoman throughout her career. Unfortunately, two years ago her daughter was diagnosed with childhood diabetes. At the onset of the disease, Laura was forced to freeze her business operation and care for her daughter. She then ran into several problems with her credit. Since then she has stabilized her finances, taken care of all previous debts and continued her business. Laura has succeeded in gaining exclusive contracts with a number of popular suppliers ensuring products in high demand to her potential clients.
Laura needs this loan to purchase stock and prepare for the winter months where business is slower. Her business is stronger during high tourist season in this summer resort town.
In the future, she wants to expand the number of exclusive suppliers she has and employ additional staff.
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%.