Update on HibaHiba is a 48-year-old, married mother of five children, who has been running her convenience store since 1994. Hiba is Al Majmoua Lebanese Association for Development's faithful borrower for six consecutive cycles. Her previous cycles helped her a lot in developing her business and covering her beloved family's increasing needs.
Today, Hiba's acquired loan will be invested in paying for her children's increasing university tuition fees. She is very proud of herself and she is working hard to keep on developing her children's talents and knowledge, to see them become important people in their society. Hiba hopes to keep on developing her family's socioeconomic situation in a well-managed way.
Previous Loan DetailsHiba is a Kiva borrower from Lebanon. She is a 44-year-old married woman who has six children. She has been running a grocery store since 1994. These stores are found in every neighborhood and village in Lebanon. When she first opened her store, she realized that it was a good location where… More from Hiba's previous loan »
More information about this loan
This loan is part of Al Majmoua's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to higher education. By supporting this loan, you're enabling access to education for students with limited options.
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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