Loan Illustration

I have fled to Lebanon with my since five years ago escaping the insecure and bad economic situations in our homeland. And as a mother of a big family, I had to…

Trade Sales

Lebanon Lebanon

Loan amount €720

Funded 100%

by 2 members

Project closed to funding, awaiting disbursement to MFI

Disbursement date: 06/01/2019
Final repayment of the loan: 01/01/2020

MicroWorld's investors have funded: €720

Haifaa - Purchase garments

Borrower

First name: Haifaa
Gender:
Age: 31
Marital status: Married
Number of children: 9
Region: Douris

Loan Request

Purpose: Purchase garments
Amount: €720
Duration: 7 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 have fled to Lebanon with my since five years ago escaping the insecure and bad economic situations in our homeland. And as a mother of a big family, I had to start working in agriculture to help my husband in covering our nine children expenses. I decided recently to start my own business in clothes retail since my income is not covering all our needs. So, I will use my loan share to buy a beautiful collection of kids wear to benefit from additional income. I hope to succeed in my new business where I can attract many customers and provide my children with all their living needs.

Economic and social context

Lebanon

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.
Country's key figures - source Worldbank
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

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

  • Time on MicroWorld: 601 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