Nazih is applying for a loan from Kiva partner Al Majmoua to start a new business that will help in increasing his income and in covering his family's requests. He will open a Hookah shop and he will let his son manage it. He believes that his son is big enough to take the responsibility of improving and expanding such a business.
This is his second experience with Al Majmoua and he is a good standing borrower. He hopes to expand both businesses in the future as much as he can.
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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