Zahava is a 46-year-old widow, mother of seven. She is a hairstylist who opened her home-based salon three years ago. The salon is located in a small structure in the back of her house. She has outgrown her current location. Over the last year Zahava has planned the expansion of her salon so she will be able meet client demand. Zahava has another area adjacent to her home which would provide a larger, more client-friendly location.
The loan is needed to purchase the raw materials for renovations including pipes, plaster, sinks and flooring. Actual renovations are being taken care of by Zahava and her sons.
Zahava has steadily grown her business. In the future, she sees herself adding more hair design stations and employing two other stylists thus expanding her income and securing her future.
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%.