Update on HandomahHandomah is a 20-year-old single lady who has been running her accessories and perfume selling shop for four years, to support her family in a well-managed way.
Handomah is working on developing her business gradually through acquiring loans from Kiva partner Al Majmoua, because her business needs an external financial push to develop it further, since her income is barely covering her family's needs and she has to do something better to improve their lives.
Today she is acquiring a YOUTH loan from Al Majmoua, which is her second cycle as an Al Majmoua borrower, in order to increase her business merchandise with specially-released accessories in time for Mother's Day which is on the 21st March in Lebanon.
Handomah is optimistic, and she believes that one day she'll expand and develop her business to start wholesale trade and satisfy her beloved family's needs.
Previous Loan DetailsHandomah is a 19-year-old single woman who opened an accessories shop three years ago to make her living and to support her family after her father passed away. Handomah likes and enjoys her business a lot, and is working hard to improve it. Unfortunately, she does not have the financial ability to… More from Handomah's previous loan »
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 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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Success!! The loan was 100% repaid