This entrepreneur is a fresh unmarried boy of 20 who completed the primary level of education. He has a barber shop and he is taking this loan is to create new decorations for the shop and to purchase barbering items, such as machine clips, hair dryers, and all the other necessities of the shop. Although he is very young, he has a good reputation in the markets and his youth attracts a lot of clients, because he is sensitive to their needs and tastes. He knows all the modern styles of hair cutting. With this loan, he was able to raise his standard of living and is more ambitious. Looking forward to a brighter future, he intends to hire more employees to serve his increasing number of clients.
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.