Ibrahim is requesting a loan from Al Majmoua for the first time, in order to add walking machines (treadmills), since his customers are increasing and because this is the only gym in the region and most of his residents are requesting such a services.
Ibrahim is taking this step to satisfy his customers needs and in order to open a new branch in the future.
In the beginning Ibrahim had financial problems and some obstacles during the start up of his business and so he had few machines. But, through his strong will and hard work, Ibrahim expanded his gym and is willing to do more in the future.
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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Success!! The loan was 100% repaid