Dalia is a 31-year-old married mother of three children, who has been working in beauty business for ten years to help her husband in making their living and covering their children's expenses. Dalia is a makeup artist. She works at home since she isn't financially capable of opening a separate beauty salon.
Dalia is acquiring a loan from Kiva partner Al Majmoua to increase her business merchandise with special autumn and winter released offers and items that will attract customers attention and increase her income, especially that they are highly requested during the coming Christmas season.
Dalia hopes that one day she will develop her business more and will be capable of opening her own beauty salon.
Dalia is the first lady sitting from the left side of the picture. As for the other group members, Liliane is sitting in the middle and Sarah is the first from the right.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid