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Mohamad

Update on Mohamad

Mohamad is a 26-year-old married father of one child. He is his family's sole breadwinner since his wife doesn't work.

Mohamad has worked in transportation for four years. His business is based on towing cars from one place to another for maintenance. His business is developing properly and gradually, but needs external support. He is acquiring a youth loan from Kiva partner Al Majmoua to register his business to expand his working zone as requested by the Lebanese government. This loan will help him in covering more regions and will allow him to increase his transporting machines requested for such business.

He hopes that in the future he can buy more towing trucks and that he will spread to cover almost all of the Lebanese territories, through opening small branches in the regions.

Previous Loan Details

Mohamad is 25 years old and single. He has been working in the transportation business for three years. Mohamad is requesting a youth loan from Al Majmoua, which he will use to start a car trading business as additional income. His present business is based on towing cars from one place to a... More from Mohamad's previous loan »

Additional Information

More information about this loan

This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

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

  • $5,900
    Average annual income
  • 92
    View loans »
    Lebanon Loans Fundraising
  • $15,270,300
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Mohamad to register his business to expand his working zone as requested by the Lebanese government.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 21, 2013
Listed
Dec 23, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2015