Noor is a 25-year-old women committed to succeeding and helping her family. Growing up she witnessed the potential of developing a business through her family’s flower shop. Unfortunately, before she was old enough to step in and manage the family business, her father passed away and the business ran into challenges, mainly from increased competition. After gaining an education, Noor began volunteering and working in several positions to gain experience. She now is opening her own mini-market and is investing in her future as a business owner. Her mini-market is centrally located. It borders a large neighborhood that sorely needs a convenience store and is also right near an elementary school. Her customer potential is significant.
Noor needed this loan to pay for renovations, including painting and remodeling, and to purchase stock for her store.
Noor has significant support from her family and friends, who have even helped her with renovations. In the future she wants to expand the mini-market, hire additional staff and manage the business full-time, giving up her part-time work after she is secure with the profit made from her business.
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%.