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Mohamad
Mohamad is a 52-year-old man who lives in Beirut, the capital of Lebanon. Mohamad has owned a laundry for almost two years now, and he is well-known for his fine work. When he first started his business, he was successful because he was the only laundry in the neighborhood.


Mohamad decided to take up this occupation because it had been his family’s business. His clients are his friends, neighbors and tourists. He requested a loan from the Kiva field partner, Al Majmoua, in order to purchase a new dry cleaning machine for his shop. This is the first time that Mohamad has requested a loan.


In the future, he plans to keep expanding his business by offering ironing services.

Additional Information

About Al Majmoua – Lebanese Association for Development

The 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.

About Lebanon

  • $5,900
    Average annual income
  • 98
    View loans »
    Lebanon Loans Fundraising
  • $15,309,925
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Mohamad to purchase a new dry cleaning machine for his shop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Jan 5, 2010
Listed
Jan 4, 2010
Currency Exchange Loss:
N/A
Ended:
Jul 15, 2011