Hassan is a 36-year-old man who lives in Tyre, southern Lebanon with his wife and their two children. Hassan has owned and operated a mobile phone store for almost two years. He sells new and used mobile phones and accessories like covers, chargers, earphones, and more. He decided on doing his business because of his experience in sales and mobile phones, since he used to work in a mobile shop before. When he first started, he had some financial issues because opening a mobile phone shop requires a lot of money to buy his merchandise. For the first time, he has requested a loan from Al Majmoua in order to purchase merchandise and new mobile devices. Hassan’s clients are mainly people from his region. In the future, he plans to improve his work by starting to repair mobile phones.
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.