Update on Amigo GroupThe group Amigo is composed of three Filipino men who have been friends ever since they came to Lebanon. They all work as chefs in Lebanese restaurants.
Richard is the group leader and the featured member sitting at the far left side of the picture. He is a 39-year-old married father whose family is still living in the Philippines. His wife is unemployed, which makes him the main and only financial provider of the family.
He and his group members are acquiring this loan to satisfy their beloved families' increasing needs. His loan from Al Majmoua will be sent to his beloved family back in the Philippines to make sure that they will have the chance to celebrate a delightful Christmas like anyone else must do during this holy season.
Doroteo is the man sitting in the middle of the picture, and Emiego Jr. is the man sitting at the right of the picture. Both of them will also send their part of the loan to their families for the same reason, and they all hope that soon they will be capable of uniting back with their beloved ones and starting their own businesses in their hometown.
Previous Loan DetailsThe group Amigo is composed of three Filipino men who have been friends ever since they came to Lebanon. They all work as housekeepers in Lebanese hotels. Richard is the group leader and the featured member standing on the far left of the picture. He is a 39-year-old married father, whose family ... More from Amigo 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