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Samer

Update on Samer

Samer is a 29-year-old married man who opened his own restaurant three years ago to improve his living situation.
Samer is a hardworking man with 13 years of experience in his industry. He has been an Al Majmoua borrower for two cycles. His previous loan was used to buy materials needed for his business, such as oils and other raw materials. The loan had a very positive effect on increasing his income.
With the profit he made and the help of his new Youth Loan from Kiva partner, Al Majmoua, Samer will invest in making the necessary repairs to his restaurant and buy new machines.
This is an excellent step forward to please his customers and improve his business.

Previous Loan Details

Samer is 28 years old and unmarried. He works in a restaurant which serves all sorts of food. He has 12 years of experience in his field. He likes his work and stands out in it due to his attention to detail, the cleanliness of his establishment, the quality of his work, and his friendliness. He ... More from Samer's previous 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 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
  • 102
    View loans »
    Lebanon Loans Fundraising
  • $15,083,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Samer to make necessary repairs to his restaurant, and buy new machines.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 24, 2012
Listed
Mar 28, 2012
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2013