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Total loan: $2,525
, , Palestine / Retail
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Khalil's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To purchase a new collection of mobile phones and accessories and a new maintaining kit.
Khalil is a 19-year-old, single young man. He has a mobile phone store for selling mobile phones and their accessories, and also for maintaining mobile phones to customers. Khalil's project has been a profitable one and the only source of income to him, but it also needs more support to cover the costs. Khalil is requesting a USD loan from FATEN to help him cover the costs of purchasing a new collection of mobile phones and their accessories and a new maintaining kit for his store. This will allow him to offer a better selection for his customers to buy and improve the quality of his work, which will improve his income positively and ensure him a bright future. Khalil is photographed in his store. About Shariah-compliant lending: 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.