Grace is a 27-years-old mother of two from northern Israel. After graduating from high school, Grace earned a degree in environmental science and tried working within her field. Unfortunately in the region where Grace lives, her degree and experience were not in high demand. Positions open to her were only part time and not with sufficient salaries. Grace refused to give up and knew she could develop a strong income, while using her intelligence and professionalism.
Grace decided to earn her hair styling certification and opened a small salon in her home. After proving she could gain clients, provide top notch services, and develop her business activity, Grace found a central location to open her salon in her town.
Grace needs this loan to assist with furnishing, and purchasing supplies for, her salon such as a sink and chair for a hair washing station, a cart, professional scissors and brushes, mirrors, countertops and a supply closet.
Grace wants to see her salon expand so she can earn a respectable living and grow as a businesswoman
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%.