Josephine is a 48-year-old married woman, and the mother of four children (Tony-32-M, George-26-M, Rita-23-F, Albert-14-M). She has been working in preparing and selling Mouneh for two years, to help her beloved husband in making their living, and covering their expenses. Today Josephine is applying for a loan from Kiva partner Al Majmoua, in order to buy necessary wood to keep her family warm during this winter season.
Josephine wishes that one day she will be capable of buying each one of her children his or her own house. She is the second from the left.
Danielle is a 29-year-old married woman, and the mother of two children (Elio-2-M, Kate-1-F). She has been working in a tailoring business for six years. Her shop is well known in the region and she has a very good reputation. Her portion of the loan will be invested in developing her business. She is the first one from the right.
Ahlam is the second one from the right; she has worked in a clothes selling shop for three years. She is a 28-year-old married woman, and the mother of one child (Huda-8months-F), and she is planing to start her own clothes selling business.
Noura is a 29-year-old married woman, and the mother of one child (Aya-7-F). She is the first one on the left. She has worked in a beauty salon for six years. With her portion of the loan, she will buy necessary oils requested to keep her family warm during this winter. She hopes to open her own beauty salon in the future.
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