Aley, Lebanon Clothing | Clothing Sales
Update on Hanine
Hanine is a 25-year-old married woman who started in 2014 her own clothes and linen selling business. Hanine is investing her free time in a profitable way since her husband is working abroad seeking a better income.
She successfully paid back her first Kiva funded loan which she acquired to diversify her merchandise to include newly released bed shields and blankets.
Today, Hanine is applying for a YOUTH loan from Al Majmoua to invest in increasing her men and women clothes’ capital though purchasing special summer collection to meet her customers’ demands.
Hanine’s future plans are to develop her current business and grow her turnover to better support her husband in covering their family’s daily living expenses.
Previous Loan Details
Hanine is 24 years old and married. She started her own clothes and perfume business in 2014 so that she can support herself as her beloved husband is working abroad to insure a better future for their family. Hanine’s business is doing alright, but just like most businesses, she needs additiona… More from Hanine’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 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.
A loan of $1,500 helps Hanine to invest in increasing her men and women clothes’ capital though purchasing special summer collection to meet her customers’ demands.