Majida is a 41-year-old married woman with three children. Four years ago she opened an ice cream & juice shop to help her husband with their living expenses. Today she is requesting a loan from Kiva partner Al Majmoua in order to buy new extra tables and chairs to increase the number of expected customers, as she is expanding the place so that it can fit more customers, in the coming spring season. This is her third cycle as an Al Majmoua borrower, with a good paying-back history.
Fatima is a 44-year-old married woman, mother of four children, who works in agriculture, specialized in planting and harvesting tobacco for 18 years. She started this business in order to prove herself in the community and it was easy for her to take this step since her husband has his own land. It's only the early wake-up call in the morning that makes her feel tired, but the result at the end of each harvesting season makes her proud of herself. Fatima has also been an Al Majmoua borrower for three cycles, and all her previous loans were invested into her business with impressive results. This time Fatima is requesting a loan from Kiva partner Al Majmoua, in order to buy necessary chemicals, plastic bags and nutrients for her agricultural business.
Yousra is a 44-year-old married woman, mother of two children. She has worked selling cosmetics and beauty creams for six years. Yousra started her business in order to hep her husband with their living expenses and to prove herself in the area she is living. She is a very sociable person with very good customer service. Her business needs her to be a very convincing person, and in fact she is.
Yousra is Al Majmoua borrower, and her previous loans were invested in improving her business. Today, Yousra is requesting a loan from Kiva partner Al Majmoua, in order to buy a new spring & summer collection, highly requested by her customers.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid