Al Daly Group
Nadia is a 45-year-old married mother of five children, who has been working as a hairdresser from her house for fourteen years now, to help her husband in increasing their income and covering their children's increasing needs.
Nadia has a very good reputation in her region, and she is well known for her special talents. Her income combined with her husbands' aren't enough to cover their family's needs, that's why she is working hard to find additional income that will provide her with a daily income.
For this reason, she asked Al Majmoua's support through an acquired loan, which she will invest in starting a new daily income business that has to do with food. She will start selling fresh meat and chicken, and will work hard on developing this business properly, and making sure that she will keep her beauty business running too.
Nadia is the first lady from the left with a red top. As for the other group members, Fatima is the first from the left and Rodayna is the lady at the center.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid