Hiam is a 33-year-old mother of five. She began a bridal salon from her home that has expanded so well she recently moved to a shop in her neighborhood. Hiam employs one woman and has gained a wonderful reputation in her village and surrounding area.
Hiam needs this loan to assist with expenses of moving to a shop outside her home. The funds are paying for additional dresses, decoration of the store and moving of her furniture and shelving.
Hiam wants to see her store continue to expand and eventually to hire more staff. She sees her business as creating a future without economic fear for her family.
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%.