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Eddy

Update on Eddy

Eddy is a 22-year-old engaged man who has been working as an electrician since 2009.
He is well known in the region for his special talent and the high quality of work he provides, in addition to his quick responses when asked for a certain service.
He is applying for a youth loan from Kiva partner Al Majmoua in order to buy newly released tools to help with his business development. He will invest part of the loan, along with a small saved amount, to start building his dream house.

This is Eddy's third loan cycle as an Al Majmoua borrower and he has a good standing repayment history. His previous loan helped him greatly in paying for his engagement expenses and in allowing him to save a small amount of cash from his business income to start building his dream home.

He is willing to keep on improving his business and to open a special electrician services company in the future.

Previous Loan Details

Eddy is a 21-year-old single man who has been working as an electrician since 2009. He is well known in the region with his special talent and good quality of work. Eddy is applying for a YOUTH LOAN from Kiva partner Al Majmoua in order to pay for his engagement expenses. He is very anxious to ta... More from Eddy's previous loan »

Additional Information

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 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.

Tags

About Lebanon

  • $5,900
    Average annual income
  • 81
    View loans »
    Lebanon Loans Fundraising
  • $15,250,300
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Eddy to buy newly released tools.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 24, 2013
Listed
Jul 23, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2015