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Souheila

Update on Souheila

Souheila is a 51-year-old married mother of three children. She has been working at preparing and selling her special handmade accessories for four years. In 2010, she started working on her own, and in May 2013 she opened her own shop to increase her income and expand her sales. She has a special talent in her domain, and is well known in her region with her special creations and prices.

Today, Souheila is applying for a loan from Kiva's partner Al Majmoua for the second time, in order to buy electrical appliances necessary for her business development and to cover some of her home needs.

Her previous loan reflected positively on her business development, and she is working hard to make sure that she can also keep on developing her family's socioeconomic situation.

Souheila is working hard to start her own dream business, which has to do with establishing a vocational training center for handmade accessories, in addition to starting a waste recycling business to keep on developing her working sectors.

Previous Loan Details

Souheila is a 50-year-old married woman, mother of three children. She has been working at preparing and selling her special handmade accessories for four years. In 2010, she started working on her own, and today she has opened her own shop to increase her income and expand her sales. She has a s... More from Souheila's previous loan »

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.

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.

About Lebanon

  • $5,900
    Average annual income
  • 77
    View loans »
    Lebanon Loans Fundraising
  • $15,648,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $2,000 helped Souheila to buy electrical appliances necessary for her business development and to cover some of her home needs.
93% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 10, 2014
Listed
Apr 9, 2014
Currency Exchange Loss:
N/A