Update on HassanHassan is a 20-year-old married man who has been working in the agriculture business for five years. Hassan started working early, he was only fifteen years old, to help his parents make a living.
Today he owns a tractor, which he uses to plow his land and other things, in addition to irrigating most of the land in his village. He also distributes water to the houses of people who live in his village, because most of the time they lack water.
Hassan applied for a loan from Kiva partner Al Majmoua to continue building his house, in addition to buying and pasting tiles.
This will be Hassan's third cycle as an Al Majmoua borrower. His previous loan helped a lot in doing necessary maintenance to his tractor.
Today his loan will be invested in doing the necessary maintenance to his dream house, which he will keep on fixing, building, and expanding as much as he can.
In the future, Hassan hopes to keep on expanding both businesses as much as he can, in addition to developing his family's social and financial situations.
Previous Loan DetailsHassan is a 19-year-old single man, who has worked in agriculture for four years. Hassan was only fifteen years old when he started working. Today he owns a tractor which he uses to plow his land and others, in addition to irrigating most of the land in his village. Hassan also distributes water ... More from Hassan's previous loan »
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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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- Repayment Term
- 21 months (Additional Information)
- Repayment Schedule
- Aug 26, 2013
- Sep 23, 2013
- Currency Exchange Loss:
- Oct 23, 2013
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.