Update on LaureineLaureine is a 24-year-old married mother of one child. She has been working in selling clothes from her house since four years ago to help her husband, who is employed with a very low income, in making their living and covering their family’s increasing expenses.
Laureine is a Palestinian refugee who puts so much effort on developing their living since they do not have variety of working majors to acquire.
Laureine is applying for a youth loan from Kiva’s partner Al Majmoua in order to increase her business merchandise with a special summer clothes collection before the Holy Eid of Ramadan approaches (it is when people celebrate the end of Holy Ramadan month).
She hopes that one day she will be capable of opening her own clothes selling shop outside her house, which will increase her customers and will develop her family’s socioeconomic situation.
Previous Loan Details"I am Laureine from Saida. I live in the Ain Al Helwi, Palestinian refugee camp. I would like to take out a loan to expand my business of selling clothes. These are some of the items I sell: pants, sweaters, shirts, shorts." Laureine is a 23-year-old married woman from the Ain Al Helwi camp in... More from Laureine's previous loan »
More information about this loan
This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources.
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