Foaad is a 40-year-old man who lives in Bekaa with his wife and their six children. Foaad has owned a grocery store since 1998. He sells canned food, beverages, candies, pasta, rice, oil, chewing gum, cakes and lots more. His clients are his friends and neighbors, as well as passers-by. Foaad is a very welcoming person and each time he receives a client, he likes taking time and chatting with him. He requested a loan from A. Majmoua in order to purchase new merchandise for his store so that he can expand his stock. This is the first time that Foaad has requested a loan from A. Majmoua. When he first started his business, he didn’t face any difficulties. Foaad decided to go into his business because he wanted to provide the best for his family. His store is well located and allows him to improve his family’s financiA. situation, but more importantly he likes trading and likes his work. In the future, he plans to keep on expanding his work.
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.