Loan Illustration

I am taking a loan to buy raw materials to produce jewels that I sell in the market. I think that women in our society must have a role to improve their family'…

Production Production

Jordan Jordan

Loan amount €2,140

Funded 99%

by 20 members

Loan fully repaid by the entrepreneur

Disbursement date: 10/01/2013
Final repayment of the loan: 04/01/2015

MicroWorld's investors have funded: €2,140

Muna - Purchase materials

Borrower

First name: Muna
Gender: Female
Age: 58
Marital status: Married
Number of children: 3
Region: Nazzal

Loan Request

Purpose: Purchase materials
Amount: €2,140
Duration: 18 months
Loan type: in fine
The loan is reimbursed in one installment at the maturity date of the project (principal and possible interests).
Note: additional time may be necessary for the funds to be credited on the lenders' accounts due to delays in international transfers.

Borrower's quote

I am taking a loan to buy raw materials to produce jewels that I sell in the market. I think that women in our society must have a role to improve their family's living standard, and must turn their ideas and dreams into reality.

Economic and social context

Jordan

Jordan

Over the last decades, Jordan assumed an important economic and demographic growth, which also benefited to the microfinance sector.
Country's key figures - source Worldbank
Population 6,181,000
GNI per capita 5,930 $
Economic Growth 2,5%
Population below the poverty line 13,3% (2009)
Unemployment rate 12,8% (2009)
Literacy rate (above 15 years of age) 37%
Life expectancy 73,4 ans

MFI Status

This loan is managed locally by our field partner MFW which is in charge of administrating the loan and repaying MicroWorld lenders.

You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

  • This loan does not pay any interest to the lender.
  • Following your loan commitment, you have 7 calendar days to assert your right of withdrawal, by mail at contact@microworld.org.
  • The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.
  • 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.
  • The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.
  • The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.
  • More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.

The MFI

MFW

MFW

Located in the capital of Jordan, Amman, MFW offers loans in the goal of helping entrepreneurs, in particular women, to become income earners and decision makers in their social and economical life. MFW, as a private non profitable microfinance institution, provide services in urban and semi-rural areas through a network of 36 branches.

Key figures - Mars 2013
Legal statusLicensed MFI
Number of borrowers66,587
Gross Loan Portfolio$26,550,454
Average loan balance385.6$
Average interest rate for borrowers2.7% per month
Number of personnel
PAR (Portfolio at Risk)0,99%
Social indicators
Average loan balance per borrower / GNI per capita9,78%
Percentage of women borrowers97%
Collaterals requiredNo
Early repayment/administrative feesNone
Insurance offeredYes
Number of clients with credit life insurance66,314
Daily compensation in case of hospitalization45,855