Update on RimahRimah is a 30-year-old married woman from a small village near the city of Nablus. She is the mother of two sons and one daughter. Her husband works in selling secondhand home appliances, for which he gets a low income. Rimah would like to start her own project, which is a sewing workshop. It is a good business and will help them to pay part of the family's expenses.
Rimah took a USD loan from FATEN. This loan will help her to buy a new sewing machine for her project. By taking this loan, Rimah will be able to start her own business. She would like to open a bigger sewing workshop in the future. Rimah appears in the photo.
Previous Loan DetailsRimah is a 27-year-old young woman. She is married with three sons; her husband works in selling secondhand home appliances. He earns a low income but wants to expand by purchasing more home appliances to resell thus increasing the family income. Rimah wants to help her husband expand his business… More from Rimah's previous loan »
More information about this loan
The Startup loan is currently being offered by FATEN to recent university and vocational training center graduates whose business is in a startup phase and does not qualify for financing under regular business loan requirements. The risks inherent in lending to startup businesses are mitigated by the creation of a feasibility plan during the loan application process, additional required collateral and an owner's contribution of at least 25%.
About FATENPalestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.
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.
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