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Ahmad
Ahmad is a 29-year-old married man. For the past three years, Ahmad has had a grocery store selling different types of groceries. It has been a profitable project, but not enough to cover the necessary costs. He would like to develop his business by buying a new laptop and start selling units for mobiles to his customers.

Ahmad is requesting a loan from FATEN to help him cover the costs of purchasing a new laptop. This will increase revenues and increase Ahmad's income.

FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.

Additional Information

About FATEN

Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.

About Palestine

  • $4,900
    Average annual income
  • 32
    View loans »
    Palestine Loans Fundraising
  • $11,660,350
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Ahmad to buy a new laptop for his grocery store.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2013
Listed
Mar 13, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 18, 2015