Sayidat Al Khalas Group
Aida is a hard-working 62-year-old married woman and the mother of two children who has been working as a tailor for a long time ago in order to help her husband in making their living and covering their family's expenses. Aida is applying for her 50th cycle loan from Kiva's partner Al Majmoua. She is a loyal Al Majmoua borrower, and an excellent borrower who invests every loan she acquires exactly According to her request.
Through this loan she will improve her business production through buying newly released textile collections for the summer season. Aida is the one sitting in the middle.
Mariam is the one at the right she is also applying for her 50th cycle loan; she is a 58-year-old married woman, mother of one child.
Marcel is the one at the left, she is also applying just like her group members for her 50th loan cycle, she is a 39-year-old married mother of two children.
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