Iman is a 33-year-old mother of two. She has a degree in business and economics and ample knowledge to create a successful small business. Iman decided to tackle her family’s economic stability and purchased a local bookstore. The 15-year-old bookstore was slated to close until Iman stepped in to not only revitalize the store but fortify her family. In order to make the store profitable, Iman decided to diversify its stock and introduce additional book types, gifts and toys.
Iman needed this loan to restock her bookstore and expand its product range.
In the future Iman wants to overcome the seasonality of her bookstore by expanding with products that will draw customers throughout the year.
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%.