When Imad first started his business, he had no problems because he already had faithful customers from his previous job. He decided to open this business because he learned the skills in an academy and wanted to have independent work. His clients are his friends, neighbors and tourists.
He requested a loan from the Kiva field partner, Al Majmoua, in order to purchase beauty products and make some décor changes in his salon. This is the first time that Imad has requested a loan. In the future, he plans to expand his business.
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