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Manal

Update on Manal

Manal is a 48-year-old mother of five children. She asked her son to appear in the photo for her because she is conservative. Manal has a small business at home that she wants to expand by selling perfume and other cosmetic products. For that reason, she is applying for a loan to bring in new types of cosmetics and more make-up products.

Previous Loan Details

Manal is a 47 years old and a conservative woman, so she asked her husband to appear in the photo instead. Manal has a small business at home that she wants to expand, selling perfumes and a few brands of cosmetic products. For that reason, she is applying for a loan to bring in new types of… More from Manal's previous loan »

Additional Information

About National Microfinance Bank

Jordan is a small country located in the heart of the Middle East’s Levant region. Regional instability has caused Jordan to be excluded from global investments for decades. Additionally, a lack of natural resources—including water and energy—places tremendous strain on the Jordanian economy, over 80% of which consists of small businesses, largely in the service industry. Despite their importance in the economy, many of these businesses are excluded from the banking sector because of their size. Microfinance institutions like National Microfinance Bank offer them an opportunity to enhance and expand their businesses. NMB also offers its services to other underprivileged peoples in Jordan, providing them with loans to pursue educational goals and improve their homes and livelihoods.

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 Jordan

  • $3,740
    Average annual income
  • 18
    View loans »
    Jordan Loans Fundraising
  • $7,338,400
    Funds lent in using Kiva
  • 0.7
    Jordan Dinars (JOD) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $750 helped Manal to bring in new types of cosmetics and perfumes to sell.
64% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 19, 2014
Listed
Mar 23, 2014
Currency Exchange Loss:
Possible