Raed wants to start his new project as a taxi driver and he wants to have his own taxi to meet the increasing demand of customer requests. Raed has some money but not enough to purchase the taxi, so he is requesting a loan from FATEN to purchase the taxi. Taking this loan will allow Raed to own the taxi and take internal and external requests, which will improve the family's income positively.
Raed is photographed next to his taxi.
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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