He decided on opening his curtain sewing factory after he gained experience. When he first started, he had some financial issues because of the cost of his sewing machines and fabrics, and the rent of the place was high, but as soon as he started working and making himself known, he increased his number of clients.
He requested a loan from Al Majmoua in order to purchase curtain fabrics and to repair one of his sewing machines. This is the first time that Basem has requested a loan.
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