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Hamzeh
Hamzeh is married, 31 years old, and the father of three children. He also shares his home with his parents and his brother, and he and his brother are the family's breadwinners. Hamzeh works hard at a bakery which he opened last year. He has wide experience in this field because he used to work in a bakery before he went into business on his own. His business grew fast and his reputation spread all over the neighborhood. He now has three employees who work for him. He is requesting a loan for $2,400 to renovate his bakery, install a new rolling shutter and new signs. Hamzeh believes that this loan will help him improve his financial situation.

Additional Information

About CHF International Access to Credit Services Initiative

CHF International Access to Credit Services Initiative Iraq has played a significant role in the rehabilitation of the Iraqi economy. As the largest microfinance institution in Iraq, ACSI is well-positioned to provide quality financial services. When lending through CHF, please consider the following:

1. Due to social and political challenges in Iraq, personally identifiable attributes of this borrower may have been altered to protect their identity (i.e. blurring portions of the borrower's photo, anonymizing name and location, etc.). CHF appreciates Kiva lenders' understanding of these challenges and encourages lenders to continue their support for Iraqi borrowers.

2. To cater to more Iraqi borrowers, CHF offers loans that comply with Islamic law. A key principle of Islam is the prohibition of charging interest on a loan. In order to offer loans in a manner consistent with borrowers' values, CHF will charge 0% interest on this loan. However, the organization does charge a flat service fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and this additional fee. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.

3. Please note that CHF has not been visited by any members of Kiva's staff. Due to ongoing security concerns, due diligence was conducted remotely. ACSI does, however, meet all of the minimum criteria for partnership with Kiva.

4. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a possibility that future loan repayments could be delayed for regulatory reasons, even if individual borrowers pay back their loans. When you make a loan through CHF, you assume this additional risk.

About Iraq

  • $3,600
    Average annual income
  • 0
    View loans »
    Iraq Loans Fundraising
  • $9,309,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD