Cool Girls Group
Update on Cool Girls GroupMarilyn is the featured borrower of the Cool Girls' Group. She got together with the other group members to apply for a loan from Kiva's partner Al Majmoua. The group members have been friends since they came to Lebanon to work hard to support their families in the Philippines.
Marilyn is first from the right. She is a 49-year-old divorced woman and mother of three children. She works hard to send them money to cover their living and education expenses.
Marilyn works as a housekeeper and she misses her family a lot. The acquired loan will be sent to her children back in the Philippines to cover their education expenses. She works hard to provide them with the best education possible to make sure that they will achieve a brighter future.
She is looking forward to the day she can unite with her family forever.
As for the other group members, Josephine is standing in the middle and Judyirene is the first from the left.
Previous Loan DetailsMarilyn is the featured borrower of the Cool Girls' Group. She got together with the other group members to apply for a loan from Kiva's partner Al Majmoua because they have always been neighbors and friends since they came to Lebanon to work hard for their family's living. Marilyn is the one ... More from Cool Girls 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