Fatmeh is an active woman who is doing her best to increase her family’s income, especially since her husband’s death. Her work is not only motivated by this desire, but more importantly, to sustain her deceased husband’s businesses. She switches daily between each of them; in the morning she works in the bakery, and starting at noon she works in her clothing shop. Her clients are her friends, neighbors and others.
When she first took on these two businesses, she didn’t face a lot of difficulties except for a shortage of cash to purchase and diversify her clothing shop merchandise. She is now requesting a loan from Al Majmoua in order to purchase commodities for her bakery and some additional merchandise for her clothing shop. Fatmeh has been a microcredit client for five years and has always paid on time. Her previous loans helped her improve both businesses. In the future she plans to keep on expanding her husband’s businesses.
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