Update on MohamadMohamad is a 27-year-old single man and has been the owner of an internet cafe for four years, with five years of experience in this field.
Most of Mohamad's clients are his fellow villagers who enjoy spending their time in his shop since he is almost the same age and holds competitions on a certain game, which increases enthusiasm among them. In addition, small children also come to play games suitable for their ages, which he recommends.
Because such a business recommends a lot of new releases, Mohamad is requesting a YOUTH LOAN from Kiva partner Al Majmoua to buy a new extra PlayStation with its necessary accessories and requested games to keep his customers pleased and to satisfy their needs. This is Mohamad's third loan from Al Majmoua, and through his previous loan, he bought a new PlayStation, an LCD screen and a power generator to make sure that electricity is available all the time for his customers' benefit.
He hopes to keep expanding his business through establishing several departments, each one targeting a certain age and needs, and he is doing just that, but gradually through Al Majmoua loans.
Previous Loan DetailsMohamad is a 26-year-old single man and has been the owner of an internet cafe for three years with four years of experience in this field. Most of Mohamad's clients are villagers. They enjoy spending their time in his shop since he is almost the same age and holds competitions on a certain... More from Mohamad's previous loan »
More information about this loan
This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources.
About Al Majmoua – Lebanese Association for DevelopmentThe Lebanese Association for Development – Al Majmoua is Lebanon’s leading microfinance institution and the oldest Kiva partner in Lebanon. Al Majmoua’s vision is to “be the leader in creating an inclusive financial system where all people in Lebanon have access to affordable services.” Given Lebanon's diverse population, Al Majmoua lends to all nationalities, provided legal residency. The strong financial position achieved to date has allowed Al Majmoua to steadily lower its pricing over the years.
Based on the belief that non-financial services play a complementary role in improving the quality of life of the most vulnerable entrepreneurs, Al Majmoua has established a solid Business Development Services program for both borrowers and non-borrowers with a focus on women and youth.
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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