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Ali

Update on Ali

Ali is a 44-year-old married man who has worked as a taxi driver for eight years. That's why he has to keep his car in good shape. Ali came back to Lebanon eight years ago. He used to work in car vehicle repairing, but hasn't done that for the last eight years. He is a father of three beloved children, and his car is his only source of making a living. His wife takes good care of his family.

Ali is requesting a loan from Kiva partner Al Majmoua, in order to change his car's engine to keep it in good repair and ready for customers' requests all the time. This is his fourth cycle as an Al Majmoua borrower, with a good standing pay back history. His previous loans helped a lot in improving his social situation, and he hopes to keep on improving his business in the future.

Previous Loan Details

Ali is 44 years old and married with a son. He works as a taxi driver and has 8 years experience. He loves his family very much, they are his top priority and he wants to secure a comfortable standard of living for them. He wants the loan because though he owns his own car, he would like to renov... More from Ali's previous loan »

Additional Information

About Al Majmoua – Lebanese Association for Development

The 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.

About Lebanon

  • $5,900
    Average annual income
  • 73
    View loans »
    Lebanon Loans Fundraising
  • $15,072,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Ali to change his car's engine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2012
Listed
Feb 21, 2012
Currency Exchange Loss:
N/A
Ended:
Feb 15, 2013