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Kheirallah
Kheirallah is a married Iraqi client, who is 43 years old and has six children. He and three of his children work to provide the family’s income, while the other three continue their studies.

Kheirallah owns a small shop and sells women's outfits. He has excellent experience in this field, since he worked at several similar shops. In 2010, Kheirallah established his own business and has earned an excellent reputation thanks to his very competitive prices.

Kheirallah is requesting a loan of $3,000 US. He will use this loan to renovate his shop, install signage, buy an air conditioner and to increase his inventory. He is aiming to grow his business and increase his profits so that he will be able to provide his family better living conditions and be able to continue to cover his children’s school fees.

Additional Information

More information about this loan

This loan is for a borrower who faces unique economic challenges due to the ongoing conflict in Iraq. Freedom of movement has been greatly restricted throughout the country by increased violence and the spread of armed groups, and there has been an influx of refugees (both internally displaced and those crossing into Iraq from Syria). As a result, individuals throughout Iraq are facing very difficult economic realities and daily life has become increasingly difficult. By supporting this loan, you are both helping CHF ACSI continue their important work and also providing greatly needed assistance to everyday people in Iraq struggling to make a living.

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
  • 3
    View loans »
    Iraq Loans Fundraising
  • $9,342,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Kheirallah to renovate his shop, install signage, buy an air conditioner and to increase his inventory.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 29, 2013
Listed
May 20, 2013
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2014