Funded

Total loan: $1,900
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Mosaab

Palestine
Palestine / Electronics Repair

A loan of $1,900 helped to purchase new kit for repairing electrical generators.


Mosaab's story

Mosaab is a 20-year-old single man. For the past two years, Mosaab has been operating a workshop repairing electrical generators, and selling spare parts. It has been a profitable project, and the only source of income to him, but also needs more support to cover the cost.

Mosaab is looking to provide his customers with better quality, so he is requesting a USD loan from FATEN in order to help him cover the cost of purchasing new repair kit. This will enable Mosaab to improve the quality of his work, and take less time in repairing the electrical generators, which will lead to customer satisfaction and improve his income. Mosaab's photo is in his workshop.

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.



Loan details

Loan length:

27 months
Disbursed date: September 19, 2012
Facilitated by Field Partner: Palestine for Credit & Development (FATEN)

Lenders and lending teams



Loan details

Loan length:

27 months
Disbursed date: September 19, 2012
Facilitated by Field Partner: Palestine for Credit & Development (FATEN)