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Total loan: $2,500
Biet Hanoun, Gaza Strip, , Palestine / Retail
Flag of Palestine
Falasteen's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to purchase paints and decoration items to resell.
Falasteen is a conservative woman, so her husband is photographed in the store. Falasteen, a 30 year old young woman, is a mother to three sons and two daughters. Her husband is a Palestinian National Authority employee with a decent salary. For the past four years, he has also had a store for selling paints and decoration items. He wants to expand his store by purchasing more of these goods, but the amount of money he has isn't enough to cover the purchases and pay for his family's expenses. Falasteen has decided to help him in acquiring the funds by getting a loan from FATEN. When Falasteen gets the loan, she will enable her husband to expand the store. They will purchase paint in bulk quantities and the decoration items that are necessary for the expansion. This will, in turn, increase his sales and his income and offer him the ability to provide better living conditions for the family. About this loan product: FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising 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 in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.