Update on AbbassAbbass is a 56-year-old married man. He has been working as a carpenter for 20 years, as he started his business in Lebanon after he returned from Africa in 1992.
Abbass applied for a loan from Kiva's partner Al Majmoua in order to buy wood for a new project he's working on.
He has been an Al Majmoua borrower for seven loan cycles. His previous loans helped a lot in improving his business as well as his family's socio-economic situation.
He is a borrower in good standing with a good reputation among his customers. He works hard to provide his children with the best living standards they deserve to have. He hopes to keep on improving, expanding and updating his business with the machines and tools required to meet customers' needs and requests.
Previous Loan DetailsAbbass is a 55-year-old married man and father of three children. He has worked as a carpenter for 20 years. In 1992, he started his business in Lebanon after he returned from Africa. Abbass applied for a loan from Kiva's partner Al Majmoua, in order to buy wood for a new project he's going to ... More from Abbass'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