Armida is the group leader, and is the featured member of this group. She is a 33 year-old Filipino, divorced mother of three children, and is standing on the left of the picture. Her low income is a burden for her family, especially as her ex-husband does not assist with the family's income anymore. She is the sole provider for her three children, which is why she decided to request a loan. Armida needs the money to pay the schooling tuition expenses.
Jenelyn is a 38 year-old Filipino married mother of two children. Her husband is currently unemployed, which makes her the only financial provider for the family. She needs the Al Majmoua loan in order to pay the schooling expenses of her children. She is pictured on the right.
Sunanda is a 44 year-old Sri-Lankan married mother of one child. Her husband is also currently unemployed, which means that she is the only source of financial support for the family. She needs the Al Majmoua loan in order to transfer it to her family.
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