Mohamad's wife supports him a lot through taking good care of their house and children. She also manages their household expenses. Today, Mohamed is asking to borrow a loan, from Kiva partner Al Majmoua, in order to buy a new Renault Rapid car. The car is a necessity for his business to transport his tools from one project to another. The loan would also increase his ability to purchase construction tools and supplies for a new project he is planning to do.
Mohamad is going to sell his old car, because it's causing him more maintenance costs. He has a real need to get extra money in order to improve his family's standard of living.
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