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Sa'ed
Sa'ed is a twenty-four-year-old young man. He is employed, but gets a low salary. Sa'ed is preparing to marry soon. His salary isn't enough to cover the wedding expenses as he wants to purchase bedroom furniture and living room furniture.

Sa'ed is requesting a loan from FATEN to help him cover the costs of purchasing the necessary home furniture to prepare a suitable home to live in with his wife. Sa'ed is photographed in the FATEN branch office.


About this loan product:
FATEN offers loans that are customized for Muslim borrowers. 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 that is consistent with borrowers' values, FATEN charges 0% interest on this loan. However, FATEN 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.

Additional Information

More information about this loan

This loan is helping support a borrower who is 35 or under. 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 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

  • $4,900
    Average annual income
  • 68
    View loans »
    Palestine Loans Fundraising
  • $11,448,125
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,550 helped Sa'ed to purchase new home furniture.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 10, 2012
Listed
Mar 1, 2012
Currency Exchange Loss:
N/A
Ended:
Mar 17, 2014