This Kiva borrower from Lebanon is a 37-year-old single man. He is living with one parent and one sibling. All three household members work to support the family’s expenses. He has owned his own bakery since 2008. He has to pay the “new” rent for his business, which is significantly more than that of long-time business owners, who have benefited from extremely low rent costs.
This borrower is requesting a loan of $1,200 from Kiva partner Ameen s.a.l. to invest in two machines for his work. One will help in mixing the flour and water and the other will help roll out the dough and make it flat. In Lebanon, there are many small shops to buy fresh bread and homemade Lebanese “pizzas” called “manouche.” These foods are especially popular for breakfast or as a snack.
This will be his second loan from Ameen. He demonstrated consistent and on-time payments during his last loan cycle.
Note: Based on the political and social challenges of Lebanon, personally identifiable attributes of this entrepreneur have been altered to protect him (i.e. blacking out portions of the entrepreneur in his picture, not indicating his name and location, etc.). Ameen s.a.l. appreciates Kiva lenders' understanding of these challenges and encourages lenders to continue their support for Lebanon's borrowers.
Ameen has been able to use its interest-free loan from Kiva to offer lower-interest loans with faster disbursement for their micro-loan borrowers. Since its inception, Ameen has provided high-quality financial services to over 41,000 borrowers and disbursed over 81,000 loans totaling $115 million. To learn more about Ameen, please visit http://partners.kiva.org/partners/115
Due to political and social challenges in Lebanon, personally identifiable attributes entrepreneurs may have been altered to protect their privacy (i.e., blurring portions of the borrower's picture, not indicating a name and location, etc.). Vitas appreciates Kiva lenders' understanding of these challenges and encourages them to continue their support for Lebanon's borrowers.