Update on SouadSouad is a 52-year-old divorced woman and mother of one child. She spent 24 years of her life working and raising her own child alone with no one's help. She has to work hard to cover her house's family expenses from her business, that's why she put all her effort in doing so to provide the best education and living for her child.
Souad has a clothing sales shop, her prices are affordable to anyone in her region. She offers different qualities with different styles that fit anyone visiting her shop.
Today she is acquiring her fourth loan cycle from Kiva partner Al Majmoua in order to increase her business capital with a newly released spring and summer clothes collection.
Souad aims to open another branch in the future, to expand her trade.
Previous Loan DetailsSouad is a 49-year-old divorced woman, who spent 22 years of her life working and raising her own child alone, with no-one's help. Souad also takes care of her old mother, so she had to work hard to cover her house's family expenses from her business, that's why she put all her effort in doing so;… More from Souad'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.
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This loan has been fully funded!