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Hassan

Update on Hassan

Hassan is a 44-year-old married father of three children. He has been working as a car mechanic for many years.In 2007, he opened his current workplace, and he is working hard on developing it. He is very talented and experienced in fixing car bodies and colors.

He is requesting a loan from Kiva's partner Al Majmoua, to make necessary maintenance to his house through building an additional room to expand his family's living space, to improve their living.

This is his sixth cycle as an Al Majmoua borrower, and he has a good repayment history.

In the future, he plans to expand his business through buying a special car painting oven which will improve his business quality.

Previous Loan Details

Hassan is a 42 year old married man from Lebanon. He lives with his wife and four young children. He has been working as a car mechanic for 30 years, and he opened the garage he is working at in 2007. Today, he is requesting to borrow from Kiva partner Al Majmoua to purchase mechanical machin... More from Hassan'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.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Lebanon

  • $5,900
    Average annual income
  • 83
    View loans »
    Lebanon Loans Fundraising
  • $15,250,300
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $1,500 helped Hassan to make necessary maintenance to his house through building an additional room to expand his family's living space.
94% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 21, 2013
Listed
Nov 15, 2013
Currency Exchange Loss:
N/A