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Harez
Harez is a 27-year-old Iraqi woman. She is married and has two children.

Harez has a beauty salon, and female customers are pleased to frequently return to her shop. In the past three years, Harez has been able to build a nice clientele and is able to contribute well to her family's income.

She would now like to make some improvements to her shop by adding some more furniture, especially chairs, and replacing the washing basins and sinks used on a daily basis.

Harez took a loan of $1800 from Relief International - Iraq for the improvement work.

Since Harez is under 30, she qualifies for a "youth" loan.

Additional Information

More information about this loan

This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

About Relief International Iraq

Relief International (RI) is a non-profit non-sectarian organization with a multifaceted approach to working in post-conflict, vulnerable and transitional countries. As part of its core mission to bridge emergency relief with long-term development though sustainable, enterprise-oriented solutions, RI directs a broad microfinance portfolio in the Middle East and South Asia. In Iraq, RI microfinance has been providing access to capital for micro, small and medium enterprises since 2006. When lending through RI, there are several points to consider:

1. RI-Iraq offers loans that are customized for borrowers in Iraq, a predominantly Muslim country. A key principle of Islam is the prohibition of charging interest on a loan. This prohibition is based on the belief that money is only a medium of exchange and has no value in itself. In order to offer loans in a manner consistent with borrowers' values, RI-Iraq charges 0% interest on this loan. However, RI-Iraq does charge a servicing fee to cover its costs. The loan amount you see listed on Kiva 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 according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.

2. Because of on-going security concerns, due diligence on RI-Iraq was conducted remotely, rather than in-person as is typical with most Kiva Field Partners. RI-Iraq does, however, meet all of the other minimum criteria required by Kiva's full due diligence.

3. One of the challenges of lending to entrepreneurs in Iraq is the increased chance of difficulty transferring funds between the United States, where Kiva is based, and Iraq. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a chance that we may encounter problems doing so in the future. This could result in difficulty repaying loan funds to lenders, even if individual borrowers have paid back their loans. As a lender to borrowers in Iraq, you would be taking on this additional risk.

About Iraq

  • $3,600
    Average annual income
  • 0
    View loans »
    Iraq Loans Fundraising
  • $9,323,450
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Harez to buy furniture and also replace the washing basins and sinks in her beauty salon.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 24, 2012
Listed
Jan 30, 2012
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2013