My name is Nadine, I am married and I have 4 children. Five years ago, I decided to start my own business to help my beloved husband meet the growing needs of o…
Sales
Lebanon
Loan amount €1,780
Funded 39%
by 13 members
Project open to funding
Only 35 days
to finance: €1,080
Nadine - Increase garments
Borrower
First name:
Nadine
Gender:
Female
Age:
37
Marital status:
Married
Number of children:
4
Region:
Bekaa
Loan Request
Purpose:
Increase garments
Amount:
€1,780
Duration:
16 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
My name is Nadine, I am married and I have 4 children. Five years ago, I decided to start my own business to help my beloved husband meet the growing needs of our precious family. I have worked hard to develop my company and it seems that I am on the right track. I now employ one person. His help allows me to take care of my large family. I would like to invest in the purchase of a new clothing collection but also renovate my store by opening a new door that is more accessible to customers, installing a false ceiling and a new display that will allow me to better display my items. I hope that one day I will be able to open another store in a better location next to the main road to attract more customers and increase my income.
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
- Partnership status: Confirmed
- Credit score:
- Time on MicroWorld: 103 months
- Repayment rate: 100%
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
Al Majmoua
Al Majmoua, the Lebanese Association for Development is an independent, non-profit Lebanese NGO.
Al Majmoua, which means "The Group" in Arabic, was established in 1998 as a microfinance program for women with low incomes, initiated by the US organisation Save The Children. Currently, Al Majmoua offers group, individual loans, and free non-financial services for business development, product improvement, marketing, networking, and personal development to its borrowers and non-borrowers.
| Legal Status | NGO |
| Number of Borrowers | 48,708 |
| Portfolio Size | $41,395,838 |
| PAR (Portfolio at Risk) | 0.72% |
| R.O.A (Return on Assets) | 10.59% |
| Active clients | Figures |
| Percent of women | 55% |
| Percent of youth | 32% |
| Percent of non-Lebanese | 16% |
| People located in rural area | 43% |
| Average amount / GDP per capita (Accessibility for the poorest) | 85% |
| Percentage of women borrowers (women's economic empowerment) | 43% |
| Savings accounts opened by customers | No (due to legal status) |
| Guarantees required to access a loan | Third party deposit |
| Loans for social purposes | Housing, post-conflicts reconstruction |
