By running my own business in private tutoring in addition to my work in this domain in one of the schools, I'm able to cover my own expenses. I also help my fa…
Services
Lebanon
Loan amount €1,360
Funded 100%
by 17 members
Funding disbursed to MFI, repayments ongoing
Disbursement date: 01/01/2020
Final repayment of the loan: 01/01/2021
| MicroWorld's investors have funded: | €1,360 |
Sawsan - Purchase materials
Borrower
First name:
Sawsan
Gender:
Female
Age:
36
Marital status:
Single
Number of children:
Region:
Chouf
Loan Request
Purpose:
Purchase materials
Amount:
€1,360
Duration:
12 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
By running my own business in private tutoring in addition to my work in this domain in one of the schools, I'm able to cover my own expenses. I also help my family members in maintaining some of their needs because my father does not work and we all cooperate to cover our needs. I will use this loan to have my own private tutoring institution and purchase all the needed items such as chairs, tables, papers, etc. I hope that I can achieve my goal in having my own institution and succeed in benefiting more students.
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: 112 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 |
