Hussein is 23 years old and lives in Bint Jbeil southern Lebanon. For the last two years, he has made a living selling CDs and cassettes. He also owns DJ equipment, which he rents our for private parties. When he started his business, he didn’t have enough cash, which is why he took out a loan to buy merchandise and improve his opportunities. He is now applying for a second loan, to buy more merchandise to sell. He has always repaid debts on time, and feels confident he can continue to do that because he has a lot of experience in sales and and meeting clients' needs. Most of his customers are friends, neighbors and people from the surrounding villages. He went into business because he likes to work independently, and plans to keep on improving his business.
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.