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Fouad

Update on Fouad

Fouad is a 31-year-old married man and the father of three children. He has been working as a mechanic since 1994. He is a hard-working man with a good reputation who seeks perfection in his business and in his customer service.

Fouad works hard on updating his business. He is requesting a loan from Al Majmoua to buy newly released tools, other than those he already bought with the previously requested loan. He will also invest part of the loan in laying down floor tiles at home to keep it a healthy living place.

He has been an Al Majmoua borrower for three cycles. He is a borrower in good standing and has proved to be a hard-working man. This was shown through his business improvements and through the updating of his tools. As is obvious in his village, Fouad is liked by most of his neighbors who represent almost 90% of his customers. They highly recommend dealing with him. He is working hard on providing his children with the best education ever, in addition to a healthy and happy childhood.

Fouad is still planning on expanding his business by opening a bigger garage in the future and adding new services, and he will try his best to make it come true.

Previous Loan Details

Fouad is a 30-year-old married man and the father of three children. He has been working as a mechanic since 1994. He is a hard-working man with a good reputation who seeks perfection in his business and in his customer service. Fouad works hard on updating his business. He is requesting a loan ... More from Fouad's previous loan »

Additional Information

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

  • $15,800
    Average annual income
  • 43
    View loans »
    Lebanon Loans Fundraising
  • $15,842,350
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Fouad to buy new tools for his business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 14, 2012
Listed
Jul 28, 2012
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2013