Update on SaraSara is a talented seamstress and designer who sells bridal dresses and evening wear. Sara received a past loan that she used to develop her business and expand her clientele. Unfortunately, Sara had a terrible fall last year and she broke her leg which impacted her ability to work for several months. When she recovered, she took a part-time job teaching design and sewing to religious women in a nearby town. Sara is now reopening her bridal salon and needs assistance in getting restarted. She is a talented and responsible professional.
Sara is requesting a loan for specialty cloth, materials, beading, and a specially refurbished sewing machine. She also is investing in advertising, so women will know she has reopened her business. In the future, Sara wants to develop her business and expand to become a full-on evening and wedding dress brand.
Previous Loan DetailsSara is a 54-year-old mother of four. Now that her children are grown she is investing her time in developing her business. After years of working to get out of debt, Sara is seeing new possibilities for her future. Sara designs and creates wedding dresses. Recently she was approached by a major ... More from Sara's previous loan »
More information about this loan
KIEDF targets some of the most marginalized groups and areas in Israel with its microfinance services, specifically working with Bedouins, Haredi women, and Israeli-Ethiopians. By contributing to this loan, you are supporting a borrower who otherwise would have very limited access to financial services.
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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