They all intend to improve their lives and this loan is their only hope.
Samira is the lady standing in the center of the picture, with the green veil covering her hair. She is a 42 year-old divorced mother of one child. She has worked as a supervisor, providing cleaning services for the past four years. Her years of experience make her more energetic and that makes her work go by faster.
Samira has been working hard to provide her only child with all of the necessary life demands including an education. Although he lives with his father, she never stops working hard to make sure he has a better future.
Samira wants to start a new clothes selling business with her sister Beykeh, a 45-year-old single lady, standing at the far right side of the picture wearning the dark blue top. She has also worked in the cleaning business for four years.
Fatima, the 39year-old single lady on the far left side of the photo, has worked in the clothes selling business for the past two years.
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