Rahet Al Bal Group
Laura applied for a loan from Kiva partner Al Majmoua, in order to buy new tools and machines necessary for improving her business. Laura will also buy a hairdressing chair, which makes her business more flexible.
Sobhiya is a 42-year-old married woman and mother of five children. She has a small Saj bread bakery and is requesting a loan in order to buy extra flour and a new dough maker to improve and increase her income. Sobhiya is the featured borrower on the left.
Zeinab is a 52-year-old married woman with 3 children. She owns a small convenience store. She is the one on the right side of the picture. She is applying for a loan from Kiva partner Al Majmoua in order to buy special offers products that will increase her selling, and at the same time increase her income.
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