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Bassam

Update on Bassam

Bassam is a 29-year-old single Palestinian refugee, living and working in a Palestinian camp since he was born.

In 2009, he opened his own convenience store to improve his living. His business is going just fine, but he needs external financial support to make sure that he can reply to his increasing customer needs and requests.

Bassam is acquiring a YOUTH loan from Kiva partner Al Majmoua to increase his business merchandise through special offers at good prices. He will also use part of the loan to buy furniture for his house.

He hopes that in the future he will be able to open a larger shop.

Previous Loan Details

Bassam is a 26 year old single man from Lebanon, owner of a grocery store since 2009. Bassam is requesting a Loan from Al Majmoua for the first time in order to buy products that are not currently carried in his shop. He also wants to buy a backup generator because he has to keep his fridges run... More from Bassam'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

  • $15,800
    Average annual income
  • 79
    View loans »
    Lebanon Loans Fundraising
  • $16,094,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $3,000 helped Bassam to increase his business merchandise with special offers with good prices, and necessary furniture for his house.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 16, 2013
Listed
Sep 13, 2013
Currency Exchange Loss:
N/A
Expired:
Oct 13, 2013