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Ra'ed
Ra'ed, who is a 26-year-old young man, is a Palestinian National Authority employee with a decent salary. Ra'ed has very old home furniture and he is looking to improve his house living conditions by getting new home furniture such as bedroom furniture, living room furniture, etc, so he needs to take a loan from FATEN to help him in paying. When Ra'ed gets the loan, he will be able to purchase new home furniture and offer to himself better and comfortable home conditions. Ra'ed is photographed in the picture.


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 helptext: 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Palestine

  • $2,900
    Average annual income
  • 23
    View loans »
    Palestine Loans Fundraising
  • $10,301,300
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,275 helped Ra'ed to purchase new home furniture.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 8, 2011
Listed
Jan 1, 2012
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014