Update on MohamadMohamad is a 39-year-old married man and father of seven children. He has worked as a taxi driver for three years.
Business is going just fine but he has to pay what is left of the price of the car he has purchased. With the help of a loan requested from Kiva partner Al Majmoua Lebanese Association for Development, Mohamad will be capable of doing it.
Mohamad already received an Al Majmoua loan and it helped him a lot in both social and financial situations. This is his third time receiving an Al Majmoua loan.
Mohamad puts so much effort into providing a good and healthy living for his children; he wants them to feel that Lebanon is their homeland, since they are Palestinian Refugees and they don't have many work opportunities.
He hopes to open a taxi company in the future and to provide his children with a brighter future.
Previous Loan DetailsMohamad is a 38-year-old married man, father of seven children. He has worked as a taxi driver since two years. Business is going on just fine but he has to do necessary maintenance for his car. With the help of a requested loan from Kiva partner Al Majmoua, Mohamad will be capable of doing it.… More from Mohamad'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