Tania is a 20-year-old single lady who is employed in a roastery (a place where nuts and coffee are sold roasted) since two years ago. Tania is her family's sole breadwinner; she is responsible for the living of five members of her family, in addition to covering her own needs. Thus, she has to put in extra effort to cover the unexpected and increasing family needs.
For this reason, Tania is acquiring a loan from Kiva partner Al Majmoua to start a new business to make sure that she can develop and improve her family’s living with this extra income. Her acquired loan will be invested in opening a special occasions planning shop, where she will start with birthdays at the beginning since she adores children and loves to draw a smile on every child’s face, but she hopes to widen and expand her dream in the future to be a wedding planner too.
Tania is the first one at the right side of the picture with the orange top. As for the other group members, Maya is at the center of the picture wearing a white shirt and Norma is the first lady from the left wearing a black top.
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