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Asmaa

Update on Asmaa

Asma is a 47-year-old Palestinian married woman who has been working in her own business as a tailor for six years, in order to help her husband in making a living. She has gained experience in this field since 1990. He works as a taxi driver with a very low income. Asma used to work as a nurse, but she turned to another business of her own, which is located next to her house. Asma has a very good reputation in her region, with her special talent and the customer service she provides. Her hope was to be a mother, and she is working hard to develop her business, in order to provide her family with a safe and healthy living. She is acquiring a loan to pay for the medications she needs, because she can’t afford to pay them directly from her business income, which barely covers her family’s needs. Asma puts much effort into developing and expanding her business, to make sure that she can remain capable of covering her family’s needs.

Previous Loan Details

Asmaa is a 44-year-old single woman from Tyre who has been working as a tailor since 1990. She works hard for her living. This is the first time Asmaa is requesting a loan from Al Majmoua, and it’s because she needs to buy a special textiles offer that’s a good investment for her business. Her cl... More from Asmaa's previous loan »

Additional Information

About Al Majmoua – Lebanese Association for Development

The 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.

About Lebanon

  • $5,900
    Average annual income
  • 37
    View loans »
    Lebanon Loans Fundraising
  • $14,855,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Asmaa to pay for medications that she needs.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2013
Listed
Jul 14, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2014