Update on TereseTerese utilized her first loan to branch out into providing arrangements for special events. In her business, Therese works to diversify her products and client base to stay competitive. She has not fully utilized online marketing. She wants to branch out in this area so she is not reliant only on customers who come into her store.
She needed this loan for cash flow after a difficult period during the war to make small renovations and to upgrade her website for an expanded clientele base. Terese continues to provide a decent living for herself and her family. She wants to continue to keep her business strong and keep her family's financial situation healthy.
Previous Loan DetailsTerese owns a flower shop in northern Israe,l which also caters to special events and celebrations. She is the mother of four grown children with a business with huge potential. Terese is the backbone of her family and her flower and specialty shop makes it possible for her to earn a living with… More from Terese's previous loan »
About KIEDF: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%.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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