-Ihssan is a 40-year-old married woman who has five children. Ihssan has been producing handicrafts for twenty years. She also does embroidery. This is the first time that Ihssan has requested a loan. She requested a loan from Al Majmoua in order to purchase supplies such as thread and some accessories.
Ihssan is special in her work because of her experience and of her good taste in her work. Her clients are people from her region. When she first started her business, she didn’t face difficulties except making herself known by the public and offering original products. She decided on doing her business because she has good networking, thanks to her experience. In the future, she plans on expanding her work.
-Yassmien is a 26-year-old single woman. Yassmien has been working as a seamstress for fifteen years. She requested a loan from Al Majmoua in order to purchase materials like thread and accessories for her work. This is the first time that Yassmien has requested a loan.
She is special in her work because she likes it and does it well. Her clients are her friends, neighbors and others. When she first started her business, she didn’t face difficulties. Yassmien decided on doing her work because of her need to provide for herself. In the future, she plans on improving her work.
-Rwaydah is a 25-year-old married woman who has one child. Rwaydah has been selling scarves from her home for five years. She requested a loan from Al Majmoua in order to purchase new scarves like pashminas and thinner scarves for the spring season. This is the first time that Rwaydah has requested a loan.
Rwaydah is special in her work because of her good quality of products. Her customers can be anybody from her region. When she first started her business, she didn’t face difficulties. Rwaydah decided on doing her work to raise her family’s income. In the future, she plans on improving her work.
About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.
About Al Majmoua – Lebanese Association for DevelopmentThe Lebanese Association for Development – Al Majmoua is Lebanon’s leading microfinance institution and the oldest Kiva partner in Lebanon. Al Majmoua’s vision is to “be the leader in creating an inclusive financial system where all people in Lebanon have access to affordable services.” Given Lebanon's diverse population, Al Majmoua lends to all nationalities, provided legal residency. The strong financial position achieved to date has allowed Al Majmoua to steadily lower its pricing over the years.
Based on the belief that non-financial services play a complementary role in improving the quality of life of the most vulnerable entrepreneurs, Al Majmoua has established a solid Business Development Services program for both borrowers and non-borrowers with a focus on women and youth.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid