Al Hanine 88227 Group
Her limited monthly salary is barely enough to cover her daily living needs. She decided to acquire a Group loan from Kiva’s field partner Al Majmoua, accompanied by Samira the lady at the center of the picture, and Hanin at the far left side, who’s acquired group loan will be invested in developing their social and financial living.
Houeida’s loan share from Al Hanine 88227 group loan will be invested in paying for a surgery she has to undergo in her eye.
More information about this loan
This loan product is part of Al Majmoua’s efforts to help people in Lebanon who have medical expenses they can’t afford. Many Lebanese face challenges in covering health-related expenses, due to the relative high cost of medical care compared to household income in the country. With this product, borrowers can use their loan to cover any costs related to medical treatment or health care, whether for themselves or for a family member. By supporting this loan, you are helping people in Lebanon meet their health care needs.
About Al Majmoua – Lebanese Association for Development
The 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.