The borrower is 29 years old and married with two children. He graduated from intermediate school. The borrower will use this loan to purchase an electrical kneading machine and flour. The borrower has a good reputation in the market and is a skilled baker, making different kinds of bread. He has been working in this area for four years and has many clients. The borrower has an ambition to develop his business in the future in order to gain a higher income for his family.
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.