Amal is a 44-year-old married woman; she works as a tailor to help her husband with their living expenses. To improve her working sector, she applied for a loan from Kiva's partner Al Majmoua, to start selling curtains and clothes too.
This will develop Amal's business in such a way that she will not need to wait for customers' requests to work; she will have her own prepared collection. She is the one in the middle.
Mounira is a 44-year-old married woman who works in the beauty & cosmetics business to earn her living and help her husband in covering their expenses. She is the one at the right. The requested loan will help her buy new furniture to improve her house to please customers, because her home is her business location.
Marwa is a 33-year-old married woman who works selling used mobile phones and prepaid cards. She will use this loan to increase her business capital with prepaid cards, which are highly requested.
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