Faysal has owned and operated a grocery store for over ten years where he sells candies, soft drinks and more. He requested a loan from Al Majmoua in order to purchase merchandise for his store. With this loan he plans to diversify his merchandise and increase his stock so that he can answer his clients’ needs. This is his second loan and he has always repaid on time. His previous loan allowed him to increase his products.
Faysal decided on doing his business because he wanted to have independent work. When he first started his work, he had some financial issues because he couldn’t afford to buy and offer a big quantity of merchandise. For the future, he hopes that he will keep on expanding his work, as well as improving his financial situation.
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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