Microfinance for Low Income Jewish Women

koret_israel_economic_development_funds
Amount:
$100,000
Year:
2013
Field of Interest:
Program Name:
Microfinance for Low Income Jewish Women
Grant Type:
Israel
Grant Website
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ORGANIZATION DESCRIPTION

Founded in 1994, Koret Israel Economic Development Funds (KIEDF) was established to stimulate economic development and employment opportunities in the private sector in Israel.  It uses its assets as guarantees to provide a portion of the securities needed to facilitate bank loans to small- and medium-sized businesses unable to obtain credit directly from the bank.  Since its inception, KIEDF has facilitated over $305 million of new financing to more than 12,000 new and expanding businesses.  In 2006, KIEDF launched its microfinance initiative to help low income and unemployed populations create an independent income generating activity, also known as a microenterprise.  Through this initiative, KIEDF has distributed more than 4,500 loans totaling $12.5 million and supported over 5,500 entrepreneurs in the creation and development of more than 4,000 microenterprises. 

GRANT PURPOSE

Microfinance for Low Income Jewish Women supports approximately 135 low-income Charedi women and immigrants from Ethiopia and the Former Soviet Union in developing microenterprises, including pre-loan and post-loan business development training.