Randa is a 53-year-old married woman and the mother of four children. She has been working as a hairdresser for 13 years to help her husband earn a living and increase their income. She is applying for a loan from Kiva's partner Al Majmoua to complete necessary maintenance on her house in order to keep it in very good condition for customers and family members. She is the one pictured in the middle.
Grace is pictured on the right. She is a 37-year-old married woman and the mother of three children. She has been working as a teacher for 13 years. The applied for loan will be invested in doing necessary maintenance on her house in order to keep it a healthy living place after the hard winter season they faced.
Sanaa is a 51-year-old married woman and the mother of three children. She has worked in handmade souvenirs and crocheted work for 30 years. She is an expert in her domain and well known in her region. The applied for loan will be invested in buying necessary household appliances for her house.
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