When he first started, Elyas challenged some financial issues. He decided on opening his shop because he saw a need in his region for such a shop. His clients can be anyone, but mainly they are his friends and neighbors.
Elyas has already taken advantage of a first loan from Al Majmoua and he's pleased with his decision to take his second. He has been very punctual with his repayments and has repaid his entire loan on time.
Today, Elyas has chosen to take a new loan of $3,000 to increase his selection of sports clothes in order to increase his sales and so his income. He hopes to further expand his business by opening a second sports shop.
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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