Fadea is a 26-year-old mother from southern Israel. This past January she began operating a small kiosk/market selling nuts, snacks, sweets, cold and hot drinks. In Israel, it is almost a national pastime to eat sunflower seeds, pistachios and other such snacks – so much so that in many places you find kiosks on almost every corner. Fadea saw that no such store existed in her area or near her neighborhood, so she decided to grab the opportunity.
Fadea needed this loan to pay for light remodeling, paint, a rolling stand, toaster oven and refrigerator for the cold drinks. She wants to continue and expand her business. She employs one part-time worker and hopes to expand so her business will be open 7 days a week to meet demands. Her true dream is to open a savings account for her son and future children ensuring they always have a safety net.
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%.