Update on MounaMouna is a 49-year-old, married Palestinian woman, mother of six children, for whom she sacrifices her life to help her husband in replying to their needs.
In 2001, Mouna opened a book and stationery shop. She sells all types of school stationery, like pens, pencils, papers; she also has a printer, newspapers, books, and much more. She notes that when she first started, she faced some challenges in securing sufficient financing for her business. She decided on doing her business because she wanted to improve her family's financial situation and she thought that it was needed in her region.
Today, Mouna has requested a loan from Kiva partner, Al Majmoua. She plans to pay for her son's university fees in Cyprus. She is so happy that she is capable of providing her children with the best education ever. She hopes they will have a brighter future since their lives in Lebanon have no chance to expand because all the Palestinian refugees have limited access to some businesses.
This will be Mouna's third cycle as an Al Majmoua borrower. She has a good-standing history of paying back loans. Her previous loans helped a lot in expanding her business and improving her family's social living. She hopes to further expand and enhance her business in the future.
Previous Loan DetailsMouna is a 46-year-old borrower from Lebanon. She lives with her husband and their six children; the oldest is 25 years old and the youngest is 10 years old. For nine years now, Mouna has owned a book and stationery shop. She sells all types of school stationery like pens, pencils, papers; sh... More from Mouna'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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