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Yousef
Yousef is a 27-year-old ambitious man, who couldn't find a job in the field he studied so he opened a barber shop. Yousef has been a barber for four years now. He wants to purchase creams and hair products to attract more customers so he took out the loan from FATEN, expecting to improve his financial situation.

Yousef appears in the picture here in the barber shop.

About this loan product:

FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending help text: http://tinyurl.com/3aekx8m

Additional Information

About FATEN

Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.

About Palestine

  • $2,900
    Average annual income
  • 29
    View loans »
    Palestine Loans Fundraising
  • $9,984,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Yousef to purchase creams and hair products to use in the shop.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 20, 2011
Listed
May 24, 2011
Currency Exchange Loss:
N/A
Ended:
Jan 16, 2013