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Odai

Update on Odai

Odai is a 21-year-old single guy, the oldest brother to four siblings. He is a second-year university student majoring in accounting and also works in a restaurant to cover some of his expenses. Odai is applying for a loan to help him pay for his next semester fees.

Previous Loan Details

Odai is 20 years old; he is the oldest brother for four siblings. He is a second-year university student majoring in accounting. Odai applied for this educational loan so he could pay for his semester fees to be able to continue and take the semester exams. More from Odai's previous loan »

Additional Information

More information about this loan

This loan is part of National Microfinance Bank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to higher education. This loan is unique compared to other options on the market as NMB has introduced flexible interest rates, meaning the loan interest rate is lowered for students with good grades and students who are engaged in community service/voluntering activiites. Discounts are also offered to students with physical disabilities and to families who have other children also studying at the university level. By supporting this loan, you're enabling access to education for students with limited options. 

About National Microfinance Bank

Jordan is a small country located in the heart of the Middle East’s Levant region. Regional instability has caused Jordan to be excluded from global investments for decades. Additionally, a lack of natural resources—including water and energy—places tremendous strain on the Jordanian economy, over 80% of which consists of small businesses, largely in the service industry. Despite their importance in the economy, many of these businesses are excluded from the banking sector because of their size. Microfinance institutions like National Microfinance Bank offer them an opportunity to enhance and expand their businesses. NMB also offers its services to other underprivileged peoples in Jordan, providing them with loans to pursue educational goals and improve their homes and livelihoods.

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.

About Jordan

  • $6,100
    Average annual income
  • 13
    View loans »
    Jordan Loans Fundraising
  • $7,869,775
    Funds lent in using Kiva
  • 0.7
    Jordan Dinars (JOD) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Odai to pay for his semester fees.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2013
Listed
Jul 1, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 23, 2014