Update on HananHanan is a 26-year-old divorced woman, who is working hard to provide her child the best life she can. Seven years ago, she started her own business at home as a hairdresser, to help in her family's income.
Hanan is a Palestinian refugee, and most of her customers are friends, relatives and neighbors from her region.
Her business is improving, because her customers are increasing. Hanan is putting so much effort to develop it in order to make sure that she can provide her child a good life and a high level of education.
Hanan applied for a youth loan from Kiva’s partner Al Majmoua in order to buy beauty items. This is her third loan with Al Majmoua. Her previous loan helped a lot in supporting her business, through the tools and equipment she bought.
Hanan started her business from home because she didn't have enough capital to open a salon. She was trying to prove that when there is a will there is a way. She confirms that she was right and she will continue working on improving and developing her business to keep her customers pleased.
She also hopes that one day she will make her dream come true.
Previous Loan DetailsHanan is a 25-year-old married woman. Six years ago, Hanan started her own business from her house. She works as a hairdresser and most of her customers are friends, relatives and neighbors. Her business is improving, but she has to put much effort in developing it to open her own future dream... More from Hanan's previous loan »
More information about this loan
This loan is helping support a borrower who is under age 30. 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 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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