The client is a 33-year-old male, recently married, with no children. He makes doors, windows, partitions and similar things for businesses and residences out of aluminum parts that he buys from vendors in Iraq. The vendors bring these parts from neighboring Turkey. This is his third loan from Al-Thiqa. Eight years ago the client started this business in a small shop with just one employee. Al-Thiqa's loans helped him grow his business, and now he is the largest manufacturer of these products in the city, with three employees. He has a great reputation in the city for the quality of his products and services.
Please note this Field Partner is "atypical" among Kiva's partner base as they have not been visited by any members of Kiva's staff. Because of on-going security concerns, due diligence was conducted remotely. This partner does, however, meet all of the minimum criteria for partnership with Kiva. Also, please be aware that Iraqi regulations are currently unclear about whether microfinance institutions are legally allowed to obtain foreign funding. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a possibility that future loan repayments could get stuck in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Iraq, you would be taking on this additional risk. Kiva cannot guarantee the return of these funds, but it will do all within its power to resolve any issues that may arise.