Update on MonaMona is a 59-year-old married woman and a mother of 7 children. In 2006, Mona started working from home to help her husband in making their living. Mona started selling linens, blankets, clothes, perfume, and makeup. Her business is going on fine, especially considering that she is living in a Palestinian camp (the same as all of her Palestinian citizens), which limits her working zone.
Mona applied for a loan from Kiva partner Al Majmoua in order to purchase a new clothes collection and linens to expand her business. Since we are approaching the winter season, she has to update her collection based upon customers' needs.
This is her fourth cycle as an Al Majmoua borrower, with a good-standing payback history.
She hopes to reach a level where she can have the financial capacity to open her own shop outside the camp.
Previous Loan DetailsMona is 57 years old. She has been selling ready-made clothes for seven years. She is married with seven children. Mona works diligently, loves her family, and supports her husband and children. She receives lots of help from those closest to her. Mona strives to increase her income and secure a ... More from Mona's previous loan »
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.
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.
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Success!! The loan was 100% repaid