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Nader

Update on Nader

Nader is a 26-year-old single man who has been working in a business of manufacturing plastic bags and papers for four years. He is a hardworking man. Through his previous loan he increased his raw materials, which improved and developed his business a lot and increased his income, in addition to expanding his working zone.

Nader is applying again for a YOUTH LOAN from Kiva's partner, Al Majmoua, in order to pay for his wedding fees. He believes that Al Majmoua loans are worth applying for because they provide you with a good increase in income and business expansion. Nader is the only person in his region with such a business, and he is insistent upon being the leader. He is planning to expand it as much as he can.

Previous Loan Details

Nader is a 25-year-old single man who manufactures plastic bags and paper. He started this business three years ago. Nader used to work as a barber, but he decided to turn to this kind of business because he liked it a lot. He states that it can open a wide market in front of him. Nader is a h... More from Nader'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
  • 76
    View loans »
    Lebanon Loans Fundraising
  • $15,651,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Nader to pay for his wedding fees.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 17, 2012
Listed
Sep 23, 2012
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2014