This entrepreneur is 57 years old and has 9 children. Despite his age, he is still active and brisk because he has worked as a the carpenter since he was very young.
He used this loan to purchase materials and supplies, such as, teak, plywood, hacksaws, and other tools that are essential to carpentry. Because of this loan, he was able to develop and expand his shop. He’s taken a huge benefit from this loan, including hiring a couple of employees to work with him, because he can’t manage all the tough work alone.
He is such a trustworthy customer that he can borrow a loan whenever he needs one for his shop. His scheduled repayments were punctual and accurate as he repaid his debt. He has a good reputation in the market among his friends and that is another reason that he gets more and more customers in his shop.
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.