Kawthar is a 33-year-old married woman, and a mother of two children (Mariam, Female, 8 years; and Ali, Male, 7 years old). Kawthar has worked in selling clothes for 3 years and works hard on improving her business as much as she can, to provide her children with the best lives.
This is Kawthar's second cycle as an Al Majmoua borrower. Her previous loan helped a lot in improving her business and reflected positively on both her social and financial situations. Kawthar requested a loan from Kiva partner Al Majmoua to increase her business capital with the newly released collection.
Mona is a 47-year-old married woman and mother of three children (Fatima, female, 20; Ali, male, 18; and Zeinab, 15 years old female). She wants to start a new business, in order to help her husband in increasing their income and covering their childrens' expenses.
Lina is a 29-year-old widow and a mother of two boys (Hachem, 9, and Mohamad, 7), whom she sacrifices her whole life just to please them by providing the best things any child would request. Lina opened a toy selling shop 6 years ago after her husband passed away, to make her living and manage her family's financial situation. She hopes to keep on providing them with the necessary needs, and to see them become important people in the future.
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