Update on HusseinHussein is a 43-year-old married man and father of three children. He works hard to provide his family with a good and healthy lifestyle.
Hussein is a hardworking man. Eight years ago, he opened a special candy store, and through Al Majmoua loans, his business is improving more and more. Hussein has been an Al Majmoua borrower for six consecutive cycles. All his previous loans were invested in increasing his business capital.
Today, Hussein is applying for a loan from Kiva partner Al Majmoua in order to purchase more products with special encouraging prices. Hussein works hard to provide the best education possible for his children and to run his business in a professional way with the goal of starting a wholesale business.
Previous Loan DetailsHussein is a 43-year-old husband and father of three who constantly strives to secure a dignified life for his family. He has been working in a shop selling food and confectioneries for the past seven years. Hussein very much likes his job and is constantly looking for ways to make it more dynamic.… More from Hussein's previous loan »
About Al Majmoua – Lebanese Association for DevelopmentThe Lebanese Association for Development – Al Majmoua is Lebanon’s leading microfinance institution and the oldest Kiva partner in Lebanon. Al Majmoua’s vision is to “be the leader in creating an inclusive financial system where all people in Lebanon have access to affordable services.” Given Lebanon's diverse population, Al Majmoua lends to all nationalities, provided legal residency. The strong financial position achieved to date has allowed Al Majmoua to steadily lower its pricing over the years.
Based on the belief that non-financial services play a complementary role in improving the quality of life of the most vulnerable entrepreneurs, Al Majmoua has established a solid Business Development Services program for both borrowers and non-borrowers with a focus on women and youth.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid