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Hussniya
Hussniya
Hussniya
Hussniya
Hussniya
Hussniyah is a persistent, self-made entrepreneur with 30 years of experience in various careers. Although she started her professional life in sewing workshops, specializing in embroidery and rug weaving, circumstances and opportunity led her to open her own grocery store.

A 52 year old mother of six children, Hussniyah had a challenging marriage and her life has not gotten easier since her divorce five years ago as she is now the sole caregiver and provider for her children. Despite traditional roles and cultural norms in her town, she entered the commercial world of men to open her grocery store at the age of 49. In the last five years her business has grown steadily, attracting clients; adding new goods and merchandise; and creating new job opportunities for community members. Currently she employs four individuals and expects that number to increase.

Hussniyah’s growing business and willingness to develop her business skills qualified her to participate in the WLIFT program and take a SME loan from Relief International Microfinance Iraq in the amount of 8,000 USD. With the loan Hussniyah plans to purchase new products, increase her stock, and purchase inventory software to organize and track her merchandise.

Additional Information

More information about this loan

This loan is part of the WLIFT program (Women Leveraging the Internet for Financial Transformation), a partnership between Kiva, microfinance institution Relief International, the Cherie Blair Foundation for Women and the U.S. State Department. The program combines customized technical assistance with loans for women-owned small and medium enterprises in Iraq to help them grow, increase their profitability, and create more stable jobs in their communities. 

This loan is to a borrower who faces unique economic challenges due to the ongoing conflict in Iraq, as they live in an area that continues to be affected by the political and economic obstacles in the country.

About Relief International Iraq

Relief International (RI) is a non-profit non-sectarian organization with a multifaceted approach to working in post-conflict, vulnerable and transitional countries. As part of its core mission to bridge emergency relief with long-term development though sustainable, enterprise-oriented solutions, RI directs a broad microfinance portfolio in the Middle East and South Asia. In Iraq, RI microfinance has been providing access to capital for micro, small and medium enterprises since 2006. When lending through RI, there are several points to consider:

1. RI-Iraq offers loans that are customized for borrowers in Iraq, a predominantly Muslim country. A key principle of Islam is the prohibition of charging interest on a loan. This prohibition is based on the belief that money is only a medium of exchange and has no value in itself. In order to offer loans in a manner consistent with borrowers' values, RI-Iraq charges 0% interest on this loan. However, RI-Iraq does charge a servicing fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.

2. Because of on-going security concerns, due diligence on RI-Iraq was conducted remotely, rather than in-person as is typical with most Kiva Field Partners. RI-Iraq does, however, meet all of the other minimum criteria required by Kiva's full due diligence.

3. One of the challenges of lending to entrepreneurs in Iraq is the increased chance of difficulty transferring funds between the United States, where Kiva is based, and Iraq. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a chance that we may encounter problems doing so in the future. This could result in difficulty repaying loan funds to lenders, even if individual borrowers have paid back their loans. As a lender to borrowers in Iraq, you would be taking on this additional risk.

Tags

About Iraq

  • $7,100
    Average annual income
  • 0
    View loans »
    Iraq Loans Fundraising
  • $9,342,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $8,000 helped Hussniya to purchase new products, increase her stock and purchase inventory software to organize and track her merchandise.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 1, 2014
Listed
May 14, 2014
Currency Exchange Loss:
N/A
Ended:
Apr 30, 2015