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Ahmad
Ahmad is from Iraq. He is a youth client 30 years of age who is married and has five children. Ahmad and his eldest child provide the family income together, while his other children continue their studies.

Ahmad owns a garage where he specializes in dyeing vehicles. He has been in this field since 2010 and gained previous experience through working as an employee for several years at a similar garage. Ahmad has good experience in this field and is well-known in the neighborhood since he is the only person with such a service in the surrounding areas.

Ahmad is requesting a youth loan of $1,500. He will use this loan to buy a piece of equipment specialized for his work and to install new shelves in his garage. Ahmad is aiming to continue providing his family with a better standard of living by improving the quality of his work and increasing his profits.

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 CHF International Access to Credit Services Initiative

CHF International Access to Credit Services Initiative Iraq has played a significant role in the rehabilitation of the Iraqi economy. As the largest microfinance institution in Iraq, ACSI is well-positioned to provide quality financial services. When lending through CHF, please consider the following:

1. Due to social and political challenges in Iraq, personally identifiable attributes of this borrower may have been altered to protect their identity (i.e. blurring portions of the borrower's photo, anonymizing name and location, etc.). CHF appreciates Kiva lenders' understanding of these challenges and encourages lenders to continue their support for Iraqi borrowers.

2. To cater to more Iraqi borrowers, CHF offers loans that comply with Islamic law. A key principle of Islam is the prohibition of charging interest on a loan. In order to offer loans in a manner consistent with borrowers' values, CHF will charge 0% interest on this loan. However, the organization does charge a flat service fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and this additional fee. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.

3. Please note that CHF has not been visited by any members of Kiva's staff. Due to ongoing security concerns, due diligence was conducted remotely. ACSI does, however, meet all of the minimum criteria for partnership with Kiva.

4. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a possibility that future loan repayments could be delayed for regulatory reasons, even if individual borrowers pay back their loans. When you make a loan through CHF, you assume this additional risk.

Tags

About Iraq

  • $3,600
    Average annual income
  • 1
    View loans »
    Iraq Loans Fundraising
  • $9,312,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $1,500 helped Ahmad to buy a piece of equipment specialized for his work and to install new shelves in his garage.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 8, 2013
Listed
Oct 7, 2013
Currency Exchange Loss:
N/A
Expired:
Nov 6, 2013