Banat Al Dayaa is a group composed of three Lebanese friends, Nisrine, Randa and Amina They decided to join hands, form a group, trust each other and acquire a group loan from Al Majmoua in order to financially support each other. Each of them has a special financial need, and the loan would be a great advantage to pull them out of their situation. Nisrine is the leader and featured member of this group. She is a 30-year-old married mother of one child, standing in the center of the picture. She is currently unemployed but has farming skills, which also happens to be her hobby. Her husband is a soldier in the Lebanese army. Their combined monthly income is not sufficient to provide a healthy life for three individuals, which is why Nisrine decided to invest in her skills and start her own business. In fact, she decided to join the group and acquire a loan in order to purchase tomato seeds and farming materials. This will allow her to launch her own farm, and prepare "Mouneh" (food that is conserved from one season to the next). The farm would allow her family to have a better socioeconomic situation.
Concerning the other group members, Randa is the woman standing on the right in the picture, while Amina is the woman standing on the left.
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.