Update on Nida GroupNida Group is a group composed of five Filipino ladies wishing to acquire a loan from Al Majmoua. They all work in Lebanon to provide their families a better living. They decided to join hands and establish the group because they all truly need support with their financial expenses.
Nida is the group leader and featured member of the group. She is the second lady from the right side of the picture and is wearing a yellow top. She is a 44-year-old single mother of five children, for whom she is sacrificing her life to provide them with the best living and education ever. They live back in the Philippines, where she dreams of going back and establishing her own business soon. She is the only financial provider of the family, since the children's father does not acknowledge the family any more.
The fact that she has a very low income makes it impossible for her to be able to rightfully provide for her children, or even cover her own expenses. The Al Majmoua loan will be invested in supporting her in her own business, preparing and selling Filipino food. The loan will be used to buy necessary raw materials and special catering needs (plates, boxes and many other necessary required needs). This is a highly requested type of business in Lebanon, since it is a special foreign menu. She is very anxious about this loan, because she believes that developing her business will increase her income and help her develop her precious family's living.
As for the other group members, Sara Jane is at the center of the picture wearing a white top, Ederlyn is the first on the right with a white striped black top, Evelyn is the first on the left with a pink top, and Deveniel is the second from the left wearing a pink and white top.
Previous Loan DetailsNida is a group composed of five Filipino ladies wishing to acquire a loan from Al Majmoua. They all work as housekeepers for Lebanese families and decided to join hands and establish the group because they all truly need support with their financial expenses. Nida is the group leader, and featured… More from Nida Group's previous loan »
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.
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.
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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Success!! The loan was 100% repaid