Update on AkobAkob is a 61-year-old married man, father of one child. Akob has been working as a tailor since 1985. He works from his own house because his business doesn't bring in enough income to rent an atelier to work in.
Akob is a hard worker. He has a very good reputation and special customers who are very loyal to him since they like the good quality products he makes.
Akob has been an Al Majmoua borrower for twelve cycles. His previous loan was also a Kiva loan and it reflected positively on his income and his social standing.
This time his loan will also be invested in his business, since he used his saved money for his mother's funeral expenses. He will purchase a special tailoring machine necessary for his business. He hopes to stay in good health to keep his family living a happy life.
Previous Loan DetailsAkob is 60 years old and married with one child. He has been working as a sewing professional for the past 26 years. His only concern in life is his work and his family, for whom he strives to provide a decent life. Akob is very proactive in building his business. Given his good standing with Al ... More from Akob'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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