Marilyn is a 31-year-old mother of three. She lives and works in Sderot. In June of 2010, Marilyn opened her business, which involves educational and entertainment activities with animals for young children. Marilyn has created a strong following of clients and works in two major nursery school systems in her city. She also provides birthday party activities. Marilyn decided to open a class with young children this year. In order to open the class, she needs additional equipment and small cosmetic renovation of her balcony.
Marilyn needs the loan to purchase equipment and additional animals for the activities as well as paints and renovation supplies for her enclosed balcony where she is holding the classes.
The weekly classes will provide a steady supplement to Marylyn's income as opposed to being dependent on school and birthday celebrations. Marilyn wants to see her business continue to expand and strengthen. Eventually she would like to hire two staff people and part-time activity coordinators to help her reach more clients.
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%.