Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

The Koret Israel Economic Development Funds (KIEDF) was established in Israel in 1994 upon the initiative of the Koret Foundation of San Francisco to stimulate economic development and employment opportunity in the private sector in Israel. Since inception, KIEDF has facilitated close to $225 million in financing to over 8,500 small and micro businesses in Israel while creating and supporting more than 45,000 jobs.


Since 2003, KIEDF is involved with development and implementation of microenterprise development programs throughout Israel to increase employment and socioeconomic advancement opportunities for low income populations facing barriers to business training and financing on reasonable terms. Thousands of microenterprises have been supported and developed with the support of these programs.

In 2006, KIEDF established SAWA – Israel's first microfinance program providing direct non-bank loans. Group and individual direct loans are distributed by KIEDF's revolving loan fund at the Postal Bank. Loans support a wide variety of businesses including small commerce, grocery stores, animal raising, hairdressing, sewing, day care etc. Kiva works only with KIEDF's SAWA direct lending program to expand access to financial services to excluded populations.

During the first 4 years of operation, SAWA operated mainly among Bedouin women in the south of the country. In 2010 the program has expanded to additional populations throughout the country including unemployed Jewish women, immigrants, orthodox Jewish women and additional Arab Israeli women. At the end of 2012, SAWA began its lending operations in Jerusalem. The success of SAWA, one of a few microfinance program in Israel, illustrates tremendous possibilities of microfinance in combatting poverty.


Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Dec 8, 2010 Oct 12, 2005
Total Loans $2,734,375 $1,958,818,855
Amount of raised Inactive loans $0 $250,565
Number of raised Inactive loans 0 237
Amount of Paying Back Loans $461,350 $161,326,725
Number of Paying Back Loans 82 188,875
Amount of Ended Loans $2,273,025 $1,768,237,830
Number of Ended Loans 575 2,370,066
Delinquency Rate 2.17% 12.18%
Amount in Arrears $5,104 $12,199,756
Outstanding Portfolio $205,601 $100,189,739
Number of Loans Delinquent 10 72,764
Default Rate 5.54% 1.83%
Amount of Ended Loans Defaulted $126,036 $32,304,134
Number of Ended Loans Defaulted 70 84,789
Currency Exchange Loss Rate 0.22% 0.50%
Amount of Currency Exchange Loss $6,442 $11,980,628
Refund Rate 0.20% 0.54%
Amount of Refunded Loans $5,525 $10,526,300
Number of Refunded Loans 1 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 98.34% 78.23%
Average Loan Size $4,164 $392
Average Individual Loan Size $4,164 $589
Average Group Loan Size $0 $1,891
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $36,200 $5,599
Average Loan Size / GDP per capita (PPP) 11.50% 7.00%
Average Time to Fund a Loan 7.55 days 8.93 days
Average Dollars Raised Per Day Per Loan $551.20 $43.86
  Average Loan Term 29.84 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 241 1,178,627
  Journaling Rate 30.47% 42.26%
  Average Number of Comments Per Journal 0.04 0.02
  Average Number of Recommendations Per Journal 0.01 0.57

Borrowing Cost Comparison (based on 2016 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 4% PY N/A 27.02% PY
  Profitability (return on assets) -9.29% N/A -3.10%
  Average Loan Size (% of per capita income) N/A N/A 0.00%

Country Fast Facts

Lending Partner Staff

Anna Avital
Beth deBeer