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Mohammad

Update on Mohammad

Mohammad is 23 years old. He lives in a sector of Jordan called Mafraq with his 3 siblings and his parents. One of his brothers is in the military. Mohammad is studying in his 4th year for a Bachelor's degree in Physics. He is planning to open an independent decoration and painting store after graduation in order to start helping his family financially, as they are currently facing a financial crisis which is not helping them in paying his upcoming semester fees. For this reason, he applied for this loan.

Previous Loan Details

Mohammad is a 22-year-old single guy, who is a university student majoring in physics at a government university. Mohammad has applied for this loan to pay his semester fees. He is seeking a BA degree in physics and hopes that he can find a job after graduation in the same field. More from Mohammad's previous loan »

Additional Information

More information about this loan

This loan is part of National Microfinance Bank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to higher education. This loan is unique compared to other options on the market as NMB has introduced flexible interest rates, meaning the loan interest rate is lowered for students with good grades and students who are engaged in community service/voluntering activiites. Discounts are also offered to students with physical disabilities and to families who have other children also studying at the university level. By supporting this loan, you're enabling access to education for students with limited options. 

About National Microfinance Bank

Jordan is a small country located in the heart of the Middle East’s Levant region. Regional instability has caused Jordan to be excluded from global investments for decades. Additionally, a lack of natural resources—including water and energy—places tremendous strain on the Jordanian economy, over 80% of which consists of small businesses, largely in the service industry. Despite their importance in the economy, many of these businesses are excluded from the banking sector because of their size. Microfinance institutions like National Microfinance Bank offer them an opportunity to enhance and expand their businesses. NMB also offers its services to other underprivileged peoples in Jordan, providing them with loans to pursue educational goals and improve their homes and livelihoods.

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 Jordan

  • $3,740
    Average annual income
  • 50
    View loans »
    Jordan Loans Fundraising
  • $7,601,800
    Funds lent in using Kiva
  • 0.7
    Jordan Dinars (JOD) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,200 helped Mohammad to pay his semester fees.
90% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 26, 2013
Listed
Oct 20, 2013
Currency Exchange Loss:
Possible