Hiyam is the featured borrower of the group; she is the lady wearing red in the middle. Hiyam is a 56-year-old married mother of five children. She puts in so much effort to develop her business in order to provide better for her family's increasing needs.
Hiyam is a makeup artist. She works from her house because at the beginning she wasn't financially capable of opening a separate place of business of her own. She specializes in tattoo and makeup work. Her clients are increasing because of her special reputation and expertise after ten years in this field.
Today, Hiyam is acquiring a loan from Kiva partner's Al Majmoua to open a new shop selling clothes. She will invest in a well-managed way in both businesses to develop them equally.
As for the other group members, Samia is the lady in blue at the left, and Joumana is the lady at the right.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid