I am a 33-year-old married mother of eleven children(on the right side of the picture wearing brown dress). I work in agriculture where I benefit from a limited…
Services
Lebanon
Loan amount €1,280
Funded 100%
by 13 members
Funding disbursed to MFI, repayments ongoing
Disbursement date: 01/01/2020
Final repayment of the loan: 11/01/2020
| MicroWorld's investors have funded: | €1,280 |
Zakiyeh - Purchase shop
Borrower
First name:
Zakiyeh
Gender:
Age:
36
Marital status:
Married
Number of children:
11
Region:
Ferzol
Loan Request
Purpose:
Purchase shop
Amount:
€1,280
Duration:
10 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 a 33-year-old married mother of eleven children(on the right side of the picture wearing brown dress). I work in agriculture where I benefit from a limited income in order to help my husband in covering our family's expenses. I strive for the sake of my family and to improve their living conditions. I am acquiring this loan in order to open my own tailoring shop where I can benefit from an additional source of income to be able to cover more of my family's expenses. I wish success in my new business and I hope 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: 124 months
- Repayment rate: 94.36%
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 |
