He requested a loan from Al Majmoua in order to purchase merchandise for his work. This is the first time that Ragheb has requested a loan from Al Majmoua. When he first started his business, he didn’t face difficulties. Ragheb decided on doing his business because he wanted to have an independent job, and his self confidence allowed him to do it. In the future, he plans on expanding his work.
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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