Monday, February 24, 2014

February's KIVA Loan

Our KIVA loan this month goes to Sharifa, a 34 year-old married woman with four children. She and her family live in a sector in Jordan called Wihdat. Several years ago her husband was called to serve in the Jordanian military, which put a great financial pressure on the family.

Sharifa decided to try and help solve the financial crisis she and her husband were facing by opening her own business. She decided to start a small food market in front of her house, where she now has been selling food products for two years.

She now needs to buy a larger quantity and variety of products to expand her business and earn more profit in order to improve the family's living conditions and to provide her children with a good education. But she didn't have enough money to expand her business, so she has applied for a loan from Jordan's National Microfinance Bank, which is funded by KIVA.

Jordan is a small country located in the heart of the Middle East’s Levant region. Regional instability has caused Jordan to be excluded from global investments for decades. Additionally, a lack of natural resources—including water and energy—places tremendous strain on the Jordanian economy, over 80% of which consists of small one and two person businesses, largely in the service industry. Despite their importance in the economy, many of these businesses are excluded from the banking sector because of their size.

Microfinance institutions like National Microfinance Bank offer their clients an opportunity to enhance and expand their businesses. NMB also offers its services to other underprivileged peoples in Jordan, providing them with loans to pursue educational goals and improve their homes and livelihoods.

We are so fortunate to be able to help hardworking mothers and fathers provide for their children. Please consider becoming a KIVA partner! 

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