Mohammad is 21-years-old from Gaza. He is a carpenter and has three years experience working as an employee in carpentry. He asked Ryada for a start-up loan in order to start-up his own carpentry business and to buy tools, such as a cutting machine for his new projects. He hopes that this loan will help him start his own business and provide him with a sustainable income.
Ryada's Startup Loan is exclusively for borrowers who are beginning new enterprises, not for existing projects. To qualify, a borrower must show a clear business plan and realistic potential for success. The borrower must also invest their own money and resources into at least 50 percent of the startup enterprise. Ryada believes strongly in the potential of these borrowers and grants them a three month grace period to help them get their business off the ground.
About Vitas Palestine
Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and Vitas Palestine are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.