Maricel is the featured borrower of the group. She is a 31-year-old, married mother of two children, and in the picture she stands in the center of the group. Her husband is unemployed, which means that she is the only financial provider of her family. However, her income is barely sufficient to provide for one individual. Therefore, she joined the group to acquire a loan. She will use her share of the loan to settle the school tuition fees of her children, who are enrolled in a private school.
As for the other group members, Alejandrina is standing on the far left of the picture in a red shirt, Jennifer is the second from the left in a pink shirt, Judith is standing at the far right of the picture, and Jenalyn is standing the second from the right, wearing red.
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