Aseel 1 Group
Rania is a 37-year-old single woman who has been working in making souvenirs and decorating chocolates for eight years to make her living. She also works at a school and she is responsible for taking care of a few children to make a better living and to make sure that she has a fixed monthly income. Today Rania wants to support her own business by applying for a loan from Kiva partner Al Majmoua, in order to increase her business requested items, such as stands, beads and decorative items. She hopes that the future will be brighter and she will be capable of opening her own souvenir shop.
Sonia is the one at the left. She is a 38-year-old married woman and mother of three children. She has worked as a tailor for ten years to help her husband pay for their children's educational fees to make sure they get the best education ever. With this loan, she will buy an oven that she needs a lot at home. She hopes to open a laundry in the future to increase her income.
Zeinab is a 22-year-old married woman, who has been working as a sales woman in a convenience store for 2 years. With this loan she will be capable of preparing necessary baby needs for her expected soon baby. She is the one seated in the middle.
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