Update on FedaFeda is a conservative woman so she asked her daughter to take her place in the photo. Feda is 44 years old. married, and lives in Dairalla, Jordan with her husband and six children. She works in agriculture. Her daughter Haneen, who appears in the photo, is a university student majoring in information and office management and is in the second semester of her second year. Haneen is seeking to finish her education so that she can work in her study field to earn a good income. Haneen is aware of the financial crisis her family has been facing and she doesn't have enough money to pay for her upcoming semester fees. Because of that, Feda has applied for this loan.
Previous Loan DetailsFeda was born in 1970. She is married and the mother of seven children. Her husband is retired. One of Feda’s daughters is in her second year studying for a Bachelor of Information and Offices Management, and she is planning to work in her study field after graduation. Feda wants to help her daug... More from Feda's previous loan »
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 BankJordan 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.
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This loan has been fully funded!
- Repayment Term
- 21 months (Additional Information)
- Repayment Schedule
- Aug 21, 2014
- Aug 29, 2014
- Currency Exchange Loss:
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.