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Riad
Riad is a 23-year-old entrepreneur from Lebanon. He is a single man who lives with his parents. Riad is a dedicated construction worker who works on very small projects. In order to improve his business, he has requested a loan from Al Majmoua, a Kiva partner, to buy scaffolding and tools for his work so that he can take on larger projects and therefore better support his family.

When he first started his business, he had some financial issues with buying the needed tools, but thanks to his previous loans, he was able to supplement his tools and prove himself. Therefore, this is the third loan he has requested from Al Majmoua. For the future, he plans on opening a stone-cutting plant.

Additional Information

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.

About Lebanon

  • $5,900
    Average annual income
  • 37
    View loans »
    Lebanon Loans Fundraising
  • $14,789,600
    Funds lent in using Kiva
  • 1,502.5
    Lebanon Pounds (LBP) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Riad to buy scaffolding and tools for his work.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 16, 2010
Listed
May 11, 2010
Currency Exchange Loss:
Covered
Ended:
May 15, 2012