Update on AsmahanAsmahan is a 55-year-old single woman, who is well known in her region because of her experience and excellent business management. She has been selling wood furniture and souvenirs since 1991. She also designs and sells special hand-made crafts for occasions such as births, engagements, and weddings. She is also a tailor, so her shop is very broad, and she splits it into departments; each part is for a certain business, but at the same time, they are in one place but blended in a beautiful and smart way.
Asmahan has been an Al Majmoua borrower for eight cycles, and her business has improved a lot with the help of Al Majmoua loans, which she has invested in adding a certain product to her shop each time.
She is a hardworking woman. She is applying for a loan from Kiva's partner Al Majmoua in order to increase her business merchandise with special home products and wooden souvenirs that will attract customers' attention and increase her revenue.
She is still working hard and hoping to open a larger shop in the future with a big showroom for her handmade souvenirs.
Previous Loan DetailsAsmahan is a fifty-four-year-old single woman, who is very well known in her region because of her experience and excellent business management. Asmahan has been selling wood furniture and souvenirs since 1991. She also designs and sells special hand-made crafts for occasions such as birth,… More from Asmahan's previous loan »
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.
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.
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