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Mustafa

Update on Mustafa

Mustafa is a 32-year-old married man and a father of two kids. Besides distributing perfumes and clothes, Mustafa started making curtains and table covers at home in big quantities and works in selling them to the shops. He now wants to increase his productivity by making the party supplies made from fabric, like table and seat cloths, napkins, and curtains, to start distributing to wedding halls and hotels. For that he is applying for a loan to get more fabric and table accessories.

Previous Loan Details

Mustafa, 30 years old, is a father who has a boy and a girl. He works as a distributor for many products such as clothing tweezers, clothes, perfumes, and other items. He either distributes them to the shops or to houses, depending on his customers. Mustafa hopes that one day he can have hi... More from Mustafa's previous loan »

Additional Information

About National Microfinance Bank

Jordan is a small country located in the heart of the Middle East’s Levant region. Regional instability has caused Jordan to be excluded from global investments for decades. Additionally, a lack of natural resources—including water and energy—places tremendous strain on the Jordanian economy, over 80% of which consists of small businesses, largely in the service industry. Despite their importance in the economy, many of these businesses are excluded from the banking sector because of their size. Microfinance institutions like National Microfinance Bank offer them an opportunity to enhance and expand their businesses. NMB also offers its services to other underprivileged peoples in Jordan, providing them with loans to pursue educational goals and improve their homes and livelihoods.

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.

Tags

About Jordan

  • $3,740
    Average annual income
  • 22
    View loans »
    Jordan Loans Fundraising
  • $7,503,825
    Funds lent in using Kiva
  • 0.7
    Jordan Dinars (JOD) = $1 USD
Expired
A loan of $1,000 helped Mustafa to get more fabric and table accessories.
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2013
Listed
May 24, 2013
Currency Exchange Loss:
Possible
Expired:
Jun 23, 2013