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Shna's Group
In this Group: Shna , Zhian , Samira
Shna is 36 years old. She is a married Iraqi woman and a mother of two children. With limited career options due to cultural restrictions and domestic constraints, Shna is one of the many Iraqi woman who is working from home, using her sewing skills to generate some income and participate in meeting the financial needs of her family.

In the past, Shna qualified for a home improvement loan, which she successfully repaid to Relief International - Microfinance Iraq. She is now taking advantage of a business loan to improve her sewing/tailoring activities.

She has eight years experience in meeting the needs of her customers, making dresses and other fabric household items. With the loan, she plans to improve both her work conditions and the services she is offering. She would like to purchase a small generator to be able to work at the frequent times when the power is out. She would also like to purchase an A/C unit, some small furniture items for her work area and an iron.

Relief International - Microfinance Iraq offers "Group loans" for clients unable to provide a guarantor - thereby unable to apply for a loan as an individual. As a group, the members collectively guarantee the loan. Groups consist of three to five clients and each client is evaluated on his or her repayment capacity. All group members receive the same loan amount as the individual with the lowest repayment capacity in the group.

Based on the political and social challenges of lending in Iraq, personally identifiable information about this borrower has been altered for their protection. RI-Iraq appreciates Kiva lenders' consideration of these challenges and encourages lenders to continue their support for Iraqi borrowers.

Additional Information

About Relief International Iraq

Relief International (RI) is a non-profit non-sectarian organization with a multifaceted approach to working in post-conflict, vulnerable and transitional countries. As part of its core mission to bridge emergency relief with long-term development though sustainable, enterprise-oriented solutions, RI directs a broad microfinance portfolio in the Middle East and South Asia. In Iraq, RI microfinance has been providing access to capital for micro, small and medium enterprises since 2006. When lending through RI, there are several points to consider:

1. RI-Iraq offers loans that are customized for borrowers in Iraq, a predominantly Muslim country. 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 consistent with borrowers' values, RI-Iraq charges 0% interest on this loan. However, RI-Iraq 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.

2. Because of on-going security concerns, due diligence on RI-Iraq was conducted remotely, rather than in-person as is typical with most Kiva Field Partners. RI-Iraq does, however, meet all of the other minimum criteria required by Kiva's full due diligence.

3. One of the challenges of lending to entrepreneurs in Iraq is the increased chance of difficulty transferring funds between the United States, where Kiva is based, and Iraq. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a chance that we may encounter problems doing so in the future. This could result in difficulty repaying loan funds to lenders, even if individual borrowers have paid back their loans. As a lender to borrowers in Iraq, you would be taking on this additional risk.

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.

About Iraq

  • $3,600
    Average annual income
  • 4
    View loans »
    Iraq Loans Fundraising
  • $9,323,450
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Shna's Group's $4,500 loan helped a member to purchase a small generator, an A/C unit, some small furniture items for her work area and an iron.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2012
Listed
Jun 19, 2012
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2013