Ali has been a microcredit client for eleven years now and has always paid on time. His previous loans helped him improve his work and diversify his merchandise. When he first started his business, he didn’t have the startup capital. Ali decided on starting his business because of his experience. In the future, he plans on improving his work by attracting more clients.
Ali requested a loan of 2000 U.S. dollars from Al Majmoua in order to purchase merchandise and do some maintenance work on his truck.
About Al Majmoua – Lebanese Association for DevelopmentThe Lebanese Association for Development – Al Majmoua is Lebanon’s leading microfinance institution and the oldest Kiva partner in Lebanon. Al Majmoua’s vision is to “be the leader in creating an inclusive financial system where all people in Lebanon have access to affordable services.” Given Lebanon's diverse population, Al Majmoua lends to all nationalities, provided legal residency. The strong financial position achieved to date has allowed Al Majmoua to steadily lower its pricing over the years.
Based on the belief that non-financial services play a complementary role in improving the quality of life of the most vulnerable entrepreneurs, Al Majmoua has established a solid Business Development Services program for both borrowers and non-borrowers with a focus on women and youth.
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Success!! The loan was 100% repaid