Update on SaidaSaida is a 48-year-old married mother. She owns a small convenience store in her village. Two of her children are enrolled in a public school, while the others work in order to cover the family’s increasing needs. However, she has a very big family, which means that she will always need to maximize her profit in order to provide a good life for her ten children.
Saida decided to contact Al Majmoua and acquire a loan in order to purchase raw materials and food to expand the capital of her shop. She will buy tinned food, in addition to special summer beverages and Holy Ramadan dates. As for the future, Saida will work hard to accept only direct cash payments from her relatives who buy their needs and do not pay directly to her. They may divide their bills along several months, which is a very bad idea for Saida because she will face a drop in her cash and won’t be capable of increasing her business capital which she is facing right now.
Previous Loan DetailsSaida is a 47-year-old married woman and mother of eleven children. Saida is a hardworking woman, a loving and caring mother, who never feels tired from anything. Saida's name means Happy, and her name describes her very well. She's always smiling and happy even in her hard times. With a big… More from Saida'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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Success!! The loan was 100% repaid