Al Ousfoura is a group composed of three Lebanese women living in a village in Mount Lebanon. They decided to join together and acquire a group loan from Al Majmoua because they are all participating in a gallery to exhibit accessories. Each of them needs a loan to buy accessories and products to sell during the exhibition. Noura is the leader and featured member of this group. She is a 47-year-old married mother of four children, standing on the left in the picture. In her daily life, she works as an employee in a printing house. Her husband owns a small gypsum manufacturing business. Her children are enrolled in private high schools, which means that she has to cover the tuition fees on top of her other expenses. The Al Majmoua loan would be truly beneficial, because it would help her develop her own business, especially through buying newly released accessories. Rouhaifa is a 46-year-old married mother of three children, standing at the right of the picture. She is Noura's colleague in the printing house. Her husband works in construction as a painter. Her three children are enrolled in private high schools. The exhibition would help her a lot in raising the family’s income, thus covering the tuition expenses. Itidal is a 38-year-old married mother of two children, standing in the center of the picture. She is employed in a shop that arranges flowers for weddings. Her husband owns a small business, where he decorates houses and renovates furniture. The Al Majmoua loan, which would help her acquire the necessary materials for the exhibition, would be highly beneficial for her future career plans.
About Al Majmoua – Lebanese Association for Development
The 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.