Zeyad is a single young man. For the past two months he has been operating a car wash located in a good traffic area. This has been a profitable project and the only source of income for him.
Zeyad is requesting a US $2,000 loan from FATEN to help him cover the costs of purchasing a new vehicle repair kit and a collection of car accessories. This will attract more customers to repair their cars and increase the business's capacity to wash more cars. This will increase his income.
More information about this loan
The Startup loan is currently being offered by FATEN to recent university and vocational training center graduates whose business is in a startup phase and does not qualify for financing under regular business loan requirements. The risks inherent in lending to startup businesses are mitigated by the creation of a feasibility plan during the loan application process, additional required collateral and an owner's contribution of at least 25%.
About FATENPalestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.
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Success!! The loan was 100% repaid