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Al Ikhlas Group
In this Group: Ikhlas, Widaa, Hanan
Ikhlas is the featured borrower of Al Ikhlas group. She is the lady on the right with the pink top. As for the other ladies, Widaa is the lady at the center, and Hanan is on the left. Ikhlas is taking a loan from Kiva partner Al Majmoua with the other two members of this group. The three of them have always been neighbors and best friends.

Ikhlas is a 40-year-old mother of two children. For the last twenty years, she has worked as a hairdresser. In 2010, she established her current business. She is working hard to develop it and address her customers' increasing demands.

She is taking a loan from Kiva partner Al Majmoua to buy newly-released beauty cosmetics and hair products at special prices. Ikhlas is working hard to keep developing her business, in order to meet her family's growing needs.

Additional Information

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.

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.

Tags

About Lebanon

  • $15,800
    Average annual income
  • 39
    View loans »
    Lebanon Loans Fundraising
  • $15,842,350
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Al Ikhlas Group's $3,000 loan helped a member to buy newly-released beauty cosmetics and hair products at special prices.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 16, 2014
Listed
Feb 13, 2014
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2015