Tanios is a 42 year-old married man, living with his wife and two kids in Tayouneh. Tanios has owned a car rental company since 2002. In Lebanon, this kind of business is doing well, because tourism is the main source of financial support to this beautiful country. To keep this business going well, the government set up some regulations which a business must follow. An annual maintenance check-up and mandatory insurance are now required. Tanios is requesting a loan from Al Majmoua in order to pay for such requirements. He already saved some money, but he needs to complete the requested amount. This is his first time dealing with Al Majmoua, and he believes that it's worth trying it. Most of his clients are tourists and Lebanese citizens who need a car for a certain period of time. He plans to expand his business more and more in the future.
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.