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Bayan

Update on Bayan

Bayan is 19 years old and single. She is a university student majoring in Marketing; she is in her second semester of her second year. Her father is retired.

Bayan is planning to be a provider for her family and to depend on herself after she gets her Bachelor's degree. She requested a loan, which she will use to pay for her upcoming semester fees to help her reach her goal.

Previous Loan Details

Bayan is 18 years old. She lives in a sector in Jordan called Baqaa with her family. Bayan is studying in her 2nd year of her Bachelors’ of Marketing. She is planning to continue her studies to find a job in her study field after graduation to start earning a better income to help her family fina... More from Bayan's previous loan »

Additional Information

More information about this loan

This loan is part of National Microfinance Bank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to higher education. This loan is unique compared to other options on the market as NMB has introduced flexible interest rates, meaning the loan interest rate is lowered for students with good grades and students who are engaged in community service/voluntering activiites. Discounts are also offered to students with physical disabilities and to families who have other children also studying at the university level. By supporting this loan, you're enabling access to education for students with limited options. 

About National Microfinance Bank

Jordan is a small country located in the heart of the Middle East’s Levant region. Regional instability has caused Jordan to be excluded from global investments for decades. Additionally, a lack of natural resources—including water and energy—places tremendous strain on the Jordanian economy, over 80% of which consists of small businesses, largely in the service industry. Despite their importance in the economy, many of these businesses are excluded from the banking sector because of their size. Microfinance institutions like National Microfinance Bank offer them an opportunity to enhance and expand their businesses. NMB also offers its services to other underprivileged peoples in Jordan, providing them with loans to pursue educational goals and improve their homes and livelihoods.

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 Jordan

  • $6,100
    Average annual income
  • 24
    View loans »
    Jordan Loans Fundraising
  • $7,934,175
    Funds lent in using Kiva
  • 0.7
    Jordan Dinars (JOD) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,025 helped Bayan to pay for her upcoming semester fees.
61% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 19, 2014
Listed
Jul 29, 2014
Currency Exchange Loss:
Possible