Ali decided on doing his business because he learned it when he was young and gained lots of experience. He also said that he is creative and always follows furniture fashions, that’s what makes him special. When he first started his business, he had to face some financial issues since the price of the thread and machines is expensive.
Ali requested a loan from Al Majmoua in order to purchase new thread and repair one of his sewing machines for his work. This is his second loan and he has always repaid on time. His clients can be anyone from his region. He also has attractive and competitive prices because he wants to keep on increasing his networking and grow his client base.
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