Check out some available loans that are similar to this one!
Mohammed
Mohammed is a 25-year-old man living in Sana'a. Mohammed completed only secondary school and could not go ahead with his studies due to the difficult living conditions he faced. Mohammed's business is a grocery store that he started with limited capital. Mohammed was able to attract new clients. This has had an impact on increasing his business capital and income. He was happy for the increase in clients but on the other hand, he faced a financial challenge because he was not able to meet the demands of his clientele. He requested a loan of 500,000 YER from Al-Amal Bank in order to meet the demands of his clients by providing the needed grocery goods. It is worth mentioning that Mohammed is one of the trusted clients of AMB. In the future, he hopes to expand his business by opening a wholesale store. He also hopes to get married.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. 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 Al-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.

About Yemen

  • $3,900
    Average annual income
  • 0
    View loans »
    Yemen Loans Fundraising
  • $3,225,150
    Funds lent in using Kiva
  • 214.3
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,350 helped Mohammed to meet the demands of his clients by stocking the requested grocery items.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2013
Listed
Feb 18, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 22, 2013