That little puppy is so lucky to have someone like you come and whisk it away. I agree with the others that it would probably be best to just shave her down and let it grow back in. This would less tramatic for her....but you'll probably want to invest in lots of little sweaters.
I'm not sure where you live but I've heard that even in a warm climate a pup can get chilled if its fur is too short. We live up North so we have lots of sweaters for our babes.
She's also young still so hopefully you can help her overcome her fear of the world completely. My freind has a similar story with her dog who is actually a mixed breed and things have turned out just great! One of the things she did when she brought hers home was so always keep him at her side and oh did (and do) they cuddle! He turned into the most loving and happy dog!
I wish you the best.
You seem very caring and have a great attitude. I'm sure things will work out well.