Fatima is an 18-year-old, single woman, the sole breadwinner to five members of her family. Eight months ago, Fatima started selling mobile phone prepaid cards and six months earlier, she started selling women's accessories to increase her income and improve her family's living conditions.
Fatima learned the accessories business from her aunt who works, selling women's accessories and needs. Fatima is working hard to develop this business as much as she can, to increase her business capital and attract new customers.
For this reason, Fatima is acquiring a loan from Kiva partner, Al Majmoua Lebanese Association for Development, to increase her business merchandise with a newly-released accessories collection that will develop her business, especially the spring and summer collection.
In the beginning, Fatima had obstacles in marketing and promoting her products, but now she is well-known in her region and she is working hard to participate in several exhibitions that will help her to be introduced to more customers from different regions. Fatima is working hard to open her own accessories-selling shop in the future, to move her business from her home and to develop her living conditions.
Fatima is the woman at the far right side of the picture. As for the other group members, Salma is in the middle, and Sanaa is on the left.
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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