Nahil is a 54-year-old widow, mother of one child, who started working as a tailor to make her own living and cover her family's expenses when her husband passed away four years ago.
This is Nahil's second cycle as an Al Majmoua borrower. She has a good repayment history. She is applying for the present loan to make necessary repairs to her home's ceiling, which is very necessary for both her personal and professional needs, because her house is also her working place. It is very important to repair it because they are having a very heavy winter season, and she wants to make sure that her business will stay in good working order.
Mariam is a 45-year-old married woman. She has sold perfumes for the past four years. With the requested loan, she will increase her perfume and cosmetics capital with newly released products. She is the second from the right.
Hanan is 27, married with four children. She has been working as a hairdresser since four years ago. With the loan, she will increase her beauty products business to better serve her customers. She's the second from the left.
Lamis is 25, married with three children. She has sold beauty products since three years ago. With the loan, she will buy a bedroom for her children.
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