I am Fadia, a widowed mother of three children. I became the sole provider of my family after the loss of my beloved husband. I run my own sewing and food produ…
Services
Lebanon
Loan amount €1,340
Funded 100%
by 13 members
Funding disbursed to MFI, repayments ongoing
Disbursement date: 11/01/2019
Final repayment of the loan: 02/01/2021
| MicroWorld's investors have funded: | €1,340 |
Fadia - Purchase fabric
Borrower
First name:
Fadia
Gender:
Female
Age:
60
Marital status:
Widowed
Number of children:
3
Region:
Chouf
Loan Request
Purpose:
Purchase fabric
Amount:
€1,340
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 Fadia, a widowed mother of three children. I became the sole provider of my family after the loss of my beloved husband. I run my own sewing and food production business so I can benefit from two sources of income. I am acquiring this loan to buy some needed textiles for my sewing business and to buy some raw material goods for my food production business. I hope to improve my business and to be able to attract more customers to 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: 110 months
- Repayment rate: 100%
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 beneficiaries have been well informed about the risks of over-indebtedness and the consequences of payment default.
- 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 |
