This entrepreneur is 30 years old and is married. He has eighteen years of experience in this business and established his cafeteria twelve years ago. The cafeteria is in a good location in the city and hundreds of young people visit it to spend their time. Thus he gains a good income.
The purpose behind this loan is to expand his cafeteria in order to accomodate more customers and bring in a waiter as well.
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.