Nimer has the ideal experience for this work, and his workshop is the only one of its type in the area where he lives. His workshop has been a profitable project, and the only source of income to the family, but it also needs support to cover costs.
Nimer is requesting a Murabaha loan (see explanation below) from Palestine for Credit and Development to help cover the costs of purchasing a new motorcycle repair kit. This investment will improve Nimer's quality of work and increase demand from his customers to repair their motorcycles. It will also increase Nimer’s income and provide better living conditions for him and to his family.
More information about this loan
This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, FATEN is charging 0% interest on this loan. This is a Murabaha loan, which means that FATEN purchases goods for borrowers and charges a fee or mark-up. Click here to learn more about this loan type and Kiva's approach to lending in the Islamic world.
About FATENPalestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.
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