In addition to his construction business, Ali has been a partner in a bakery. Recently, he bought out his partner and now needs to do necessary maintenance to his new business. He is confident that this step will have a significant and positive effect on his family's situation.
Through a requested loan from Kiva partner Al Majmoua, Ali will buy new machines and an improved wide oven in addition to purchasing necessary raw materials.
Ali hopes to expand both businesses in a very strategic way, and to gain and preserve his customers' trust.
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