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Hussein

Update on Hussein

Hussein is a 35-year-old single man. He is a Syrian citizen who works and lives in Lebanon. He is the sole breadwinner of two members of his family. That's why he has to work hard and put so much effort into improving his socioeconomic situation. In 2008, he opened his current shop to improve his living.

Hussein is acquiring a loan from Kiva partner Al Majmoua to buy a new tailoring machine. He will also use a part of the loan to support his family through responding to some of their additional needs.

In the future, Hussein is hoping to buy his own shop instead of paying rent for the current working place.

Previous Loan Details

Hussein is a 33-year-old single man from Saida. He has worked as a tailor since 2008 with 4 years of experience. Hussein is requesting a loan from A. Majmoua for the third time in order to buy the necessary tools for his business, and to continue pasting tiles and finishing all the sanitary items… More from Hussein's previous loan »

Additional Information

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

  • $5,900
    Average annual income
  • 51
    View loans »
    Lebanon Loans Fundraising
  • $14,752,300
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $2,500 helped Hussein to buy a new tailoring machine.
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 5, 2013
Listed
Oct 11, 2013
Currency Exchange Loss:
N/A
Expired:
Nov 10, 2013