Elinor, a divorced mother of two grown children, lives in Bnei Brak. For the past several years, she has given group and private exercise training lessons and massage therapy. In the past, Elinor ran her group lessons and private sessions in different studios and gyms. After careful calculation and business consultation, Elinor decided to open a studio in her home. With her eldest child already reaching adulthood and making a home of her own, Elinor had the extra space and converted an area into a studio. This allows her to save transportation and rental costs and precious time she had to allocate to reach the other locations. While a small number of clients will continue to have lessons at an outside studio, the majority of her business is relocating to her home-based studio.
Elinor needed this loan to purchase weights, exercise mats, pilates balls, and lighting fixtures and to create PR flyers.
While a good number of Elinor's clients have moved to her home-based studio, she does still hold classes at outside studios. In the future, she hopes to work almost exclusively out of her studio, providing classes throughout the week.
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%.