Check out some available loans that are similar to this one!
Redwan
Redwan is a 20-year-old man. He lives in Ibb, Yemen. His educational background is secondary school. His business is in a high traffic area, which makes it a main source of income. He started working in a shoe store with his cousin. Two years ago, he bought this store from his cousin. He already attracted numbers of regular customers and improved the family's income. The business has been successful in the most recent years. Therefore, he is planning to expand the business. So he is requesting a loan of 400,000 YER from AMB to buy ladies' and men's shoes to increase his income and have more customers. In the future, Redwan hopes to increase his profit and improve his living conditions as well as to buy a car, which will facilitate his work.

Additional Information

More information about this loan

This loan is helping support a borrower who is 30 or under. 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-Amal Microfinance Bank

Al-Amal reaches out to low-income micro-entrepreneurs and small business owners in Yemen with a suite of credit, savings, and insurance products tailored for Muslim borrowers. Before lending through Al-Amal, please consider the following:

1) Due to ongoing security concerns, full due-diligence of Al-Amal was conducted remotely rather than on-site. This makes Al-Amal atypical among Kiva's Field Partners, as Kiva staff have not conducted an on-site assessment. Al-Amal's assessment included in-person meetings with the top management in other, more secure locations in the Middle East.

2) Because Yemen is a new and unstable environment, there is a possibility that future loan repayments could be held indefinitely in the country for regulatory reasons, even if individual borrowers pay back their loans. As a lender to borrowers in Yemen, you accept this additional risk.

Additionally, all of Al-Amal's products are Sharia compliant and customized for its Muslim clients. Most of the loans are structured as Murabaha interest free loans. Al-Amal purchases goods for its borrowers and charges them a markup or fee. Al-Amal is also experimenting with Ijarah loans (an Islamic leasing product). For more information on Islamic microfinance, please click here.

About Yemen

  • $2,700
    Average annual income
  • 29
    View loans »
    Yemen Loans Fundraising
  • $3,135,375
    Funds lent in using Kiva
  • 214.5
    Yemen Rials (YER) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Redwan to buy ladies' and men's shoes to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 17, 2013
Listed
Jul 29, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014