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The Koret Israel Economic Development Funds – Asper Foundation Micro-Enterprise Project |
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The goal of the low income programs are to facilitate the establishment of micro-enterprises via business skills training, loans and individual post-credit mentoring assistance. The goal of the business improvement program is to improve business performance and create a group of business leaders in the Negev region of Israel via business skills development, individual mentoring and loans. The program is projected to have 130 participants, distribute 50 loans at an average of $4,000 each for a total of $200,000 and create 50-70 jobs. The project is comprised of the following programs:
The business development training component of the project includes participants attending several months of training on how to manage funds, focus their business capabilities and ideas, create and manage a micro-enterprise, requirements as to taxes, VAT and licensing, preparing business plans and navigating the loan approval process. The mentoring and technical assistance component of the project includes participants who receive loans receiving post-loan mentoring and technical assistance from a KIEDF-approved financial advisor over a period of several months. The local program administration component of the project includes an organization, centre or other non-profit being engaged to recruit the group participants, provide facilities and refreshments, coordinate group meetings and provide related services. Bedouin women held a fair in Rahat, Israel through the Koret Israel Economic Development Funds - Asper Foundation Micro-Enterprise Project. Click here to read an English translation of a June 22, 2008 Negev News article (original in Arabic) on the event and click here for a Power Point presentation on the event.
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