I am here again to express my high respect for Al Majmoua who supported me with her kind services having my bakery expanded which I am operating since 2001. I …
Food
Lebanon
Loan amount €1,500
Funded 98%
by 9 members
Loan fully repaid by the entrepreneur
Disbursement date: 03/01/2015
Final repayment of the loan: 06/01/2016
| MicroWorld's investors have funded: | €1,500 |
Ahlam - Purchase materials
Borrower
First name:
Ahlam
Gender:
Female
Age:
18
Marital status:
Married
Number of children:
4
Region:
Beirut
Loan Request
Purpose:
Purchase materials
Amount:
€1,500
Duration:
15 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 here again to express my high respect for Al Majmoua who supported me with her kind services having my bakery expanded which I am operating since 2001. I am acquiring this loan to purchase many tools such us display case for the pastries and some necessary raw materials. My husband is the main supporter in this activity in order to fulfill our family needs’. My dream is to continue running my business, eventually expanding it and generating greater resources in order to have a better quality of life.
Economic and social context
Lebanon
The Lebanese terrority, which is half as small as French Britanny, is composed of an unmatched variety of landscapes, including sunny Mediteranean shores, snowy mountains with the country's famous cedar trees, deserts, and flatlands.
| Population | 4 223 553 |
| GNI per capita | 7 970 USD |
| Economic Growth | 8,00% |
| Poverty rate (less than 2 USD/ day) | No data |
| Unemployment rate | 8,1% |
| Literacy rate (above 15 years of age) | 90% |
| Life expectancy | 72 years |
MFI Status
- Time on MicroWorld: 600 months
Rates and transparency
- This loan does not pay any interest to the lender.
- 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
