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Hussain
Hussain is from Iraq. He is a single, youth client of 21 years of age, who lives with six family members, three of whom are employed.

Hussain owns a small shop for selling electronics. He established his business in 2011, and now he has an employee. He built a good experience in this field and he is well-known in the surrounding area, with an excellent reputation.

Hussain is requesting a USD 2,400 youth loan to install a rolling shutter, an external ceiling, and signage for his shop. He is aiming to grow his business and increase his profits, so he will be able to provide himself with better living conditions.

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 CHF International Access to Credit Services Initiative

CHF International Access to Credit Services Initiative Iraq has played a significant role in the rehabilitation of the Iraqi economy. As the largest microfinance institution in Iraq, ACSI is well-positioned to provide quality financial services. When lending through CHF, please consider the following:

1. Due to social and political challenges in Iraq, personally identifiable attributes of this borrower may have been altered to protect their identity (i.e. blurring portions of the borrower's photo, anonymizing name and location, etc.). CHF appreciates Kiva lenders' understanding of these challenges and encourages lenders to continue their support for Iraqi borrowers.

2. To cater to more Iraqi borrowers, CHF offers loans that comply with Islamic law. A key principle of Islam is the prohibition of charging interest on a loan. In order to offer loans in a manner consistent with borrowers' values, CHF will charge 0% interest on this loan. However, the organization does charge a flat service fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and this additional fee. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.

3. Please note that CHF has not been visited by any members of Kiva's staff. Due to ongoing security concerns, due diligence was conducted remotely. ACSI does, however, meet all of the minimum criteria for partnership with Kiva.

4. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a possibility that future loan repayments could be delayed for regulatory reasons, even if individual borrowers pay back their loans. When you make a loan through CHF, you assume this additional risk.

About Iraq

  • $3,600
    Average annual income
  • 3
    View loans »
    Iraq Loans Fundraising
  • $9,342,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Hussain to install a rolling shutter, an external ceiling, and signage for his shop.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 27, 2013
Listed
Feb 4, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014