In this Group: Susan, Carmelita , Blesilda
Update on Kikay Group
Susan is the featured borrower of Kikay group. She got together with the other group members to acquire a loan from Kiva’s field partner Al Majmoua because they have always been friends since they left their hometown in the Philippines to come and work in Lebanon with a better income to support their beloved ones back in the Philippines.
Susan is a 44-year-old, widowed mother of three children, for whom she works hard as a housekeeper to provide them with the best living and education since her husband passed away. Today she is acquiring a loan from Kiva’s field partner Al Majmoua to pay her children’s school tuition fees. She is the lady in the middle.
With respect to the other group members, Carmelita is the first on the right, and Blesilda is the first on the left.
Previous Loan Details
Susan is the featured borrower of Kikay Group. She got together with the other group members to acquire a loan from Kiva’s field partner Al Majmoua. They have been best friends since they arrived in Lebanon to work as housekeepers, leaving their families back home in their Philippine hometown. … More from Kikay Group’s previous loan »
More information about this loan
This loan is specifically designed for Al Majmoua’s underserved clients, namely non-Lebanese who have come to Lebanon to find work. These communities, often from the Philippines, have been marginalized by Lebanese society and do not enjoy the same opportunities in the work, educational, and health fields. By funding this loan, you are helping these individuals improve their businesses and provide for their families.
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.
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.
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.