Update on AbdeljabbarAbdel jabbar is a 26-year-old single man from Jenin. He lives in a simple house in the city with his family.
Abdeljabbar works as an employee in the public sector and gets a low income. This income barely covers the family's needs. One year ago, Abdeljabbar opened a small clothes store for women in the city. It is a good business but needs a lot of improvement. Because it is Eid season, he needs some money to buy more stock.
Abdeljabbar took a USD Murabaha loan from FATEN. This loan will help him to buy more stock for his store to resell. This will increase his earnings.
Abdeljabbar appears in the photo in front of his store.
Previous Loan DetailsAbdelJabbar is a 26-year-old single young man. He lives a simple life with his family in Jenin. He is employed and gets a low salary which is barely enough to cover his needs. AbdelJabbar is requesting a loan from FATEN to cover the cost of purchasing a new refrigerator for his family to use a... More from Abdeljabbar's previous loan »
More information about this loan
This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, FATEN is charging 0% interest on this loan. This is a Murabaha loan, which means that FATEN purchases goods for borrowers and charges a fee or mark-up. Click here to learn more about this loan type and Kiva's approach to lending in the Islamic world.
About FATENPalestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.
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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