Fadwa is a 34-year-old married mother of three children. Two years ago she started working in selling beauty cosmetics from her house to help her husband in covering their family's increasing needs.
Fadwa is acquiring a loan from Kiva partner Al Majmoua in order to start a new additional business to increase her family's income and develop their living. She will open a small restaurant as an additional income business. She will ask her husband to help her in running this business since he has wide experience in this domain.
Fadwa is the lady standing at the far left side of the picture wearing brown. Her mother Damia is the older lady with a white veil covering her hair. The two other ladies are her brothers' wives. Sylvia is the lady wearing the gray jacket and Huda is the lady sitting at the right side of the picture.
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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