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Adel

Update on Adel

Adel is a 59-year-old married father of five children. He has worked as a taxi driver since 1990. His business is his only source of income; that's why he works hard to develop it in a well managed way to keep it a good source of livelihood.

Adel has been an Al Majmoua borrower for four consecutive cycles; his previous loan was invested in renewing his current car to keep it in good condition to attract new customers.

His current acquired loan will be used in helping his son with his engagement expenses, which he will consider as his gift to his beloved son.

He is working hard to expand his business and hopes to buy a small bus which he will use in transporting students and customers from one place to another which will sure increase his income and develop his livelihood.

Previous Loan Details

Adel is a 56-year-old husband and father of five who always seeks to support his family financially and emotionally, and who in turn is greatly supported by them. For the past decade, Adel has been very actively and assiduously working as a taxi driver. Given his good standing with Al Majmoua, Ad... More from Adel'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

  • $15,800
    Average annual income
  • 40
    View loans »
    Lebanon Loans Fundraising
  • $15,822,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Adel to help his son with his engagement expenses.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 14, 2013
Listed
Nov 15, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2015