Abdallah has a very small sewing factory in the city. It is a good business and provides him with a good income, but the economic situation in the Gaza Strip is bad because of the latest conflict. Abdallah took a USD loan from Palestine for Credit & Development. This loan will help him to buy a new sewing machine. He hopes that this new inventory will enable him to increase his sales, customers, and eventually save enough income to cover school fees for his children.
More information about this loan
The Startup loan is currently being offered by FATEN to recent university and vocational training center graduates whose business is in a startup phase and does not qualify for financing under regular business loan requirements. The risks inherent in lending to startup businesses are mitigated by the creation of a feasibility plan during the loan application process, additional required collateral and an owner’s contribution of at least 25%.
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 FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.