Update on RhondaThrough this first Kiva-provided loan, Rhonda successfully moved her salon. The move was good for her business, and she has succeeded in maintaining customers and gaining new ones. In her current location, there are other beauty salons, but Rhonda's professionalism and high quality work has succeeded in differentiating her from the competition. She has even gained customers from the other salons.
Rhonda needed this new loan to allow for additional renovations and to purchase a salon mirror, artificial nail application and maintenance materials, and additional cosmetic treatments.
The new station and mirror will assist in further emphasizing the difference of Rhonda's salon from her competition. Rhonda wants to continue to see her business grow. Eventually she wants to include a wide variety of beauty treatments and programs.
Previous Loan DetailsRhonda is a 29-year-old businesswomen from Turan in northern Israel. She opened her hair & bridal salon in 2009. After gaining clients Rhonda moved her salon to a more central and attractive location this year. Rhonda, a charismatic and dedicated stylist, has gained a reputation of dedication to ... More from Rhonda'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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Success!! The loan was 100% repaid