Wupa is a 28-year-old young woman from Yasif village in northern Israel. After high school, she completed hair stylist and cosmetology courses. While she always wanted to open her own salon, Wupa knew she needed experience and worked in a well-known salon in another area. She finally took the initiative and opened her salon in a location her parents provided. Now Wupa needs to renovate the salon to maximize its potential.
Wupa needed this loan to redo the electricity, purchase an air conditioner, colors, a hair color caddy, styling chair, salon materials and cosmetics.
Wupa’s salon has strong potential for growth and expansion. She wants her salon to meet the demands of area clients and to finish her Bachelor’s degree so she can apply her knowledge to further create a thriving 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%.