Update on MohamadMohamad is a 52-year-old married man, living in Beirut with his wife and four children. Mohamad has owned an electronics sales shop since 2005, with 26 years of experience in this domain. He sells electronic games, DVDs and records special song CDs requested by his clients.
He is requesting a loan from Al Majmoua for the third time, in order to buy portable DVD players and iPods to increase his electronics variety. Mohamad is always up-to-date with every new released product, because electronics forces you to stay up-to-date with customers' daily changing needs and requests.
Mohamad's previous loans were very impressive; he stated that they increased his income and developed his business, in addition to replying easily to his family's needs. He assures that Al Majmoua loans help him a lot in educating his children. His prices are affordable for almost all customers.
His clients can be anyone in the region, including tourists, since he is in a tourist area in Beirut, visited by almost all tourists visiting Lebanon. Mohamad is still hoping to expand his business through selling computer accessories and hardware in the future.
Previous Loan DetailsMohamad is a 51-year-old married man, living in Beirut with his wife and 4 children. Mohamad has owned an electronics sales shop since 2005, with 25 years of experience in this domain. He sells electronic games, DVDs and records special song CDs requested by his clients. Mohamad is requesting a… 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