The new business is going fine, but needs support to develop more. That's why Youssef has applied for a loan from Kiva partner Al Majmoua, in order to buy a new, bigger and updated espresso machine capable of meeting his customers' needs.
Youssef is a hardworking man who is trying his best to provide his family with a good and healthy standard of living. He has previously taken two loans from Al Majmoua, which reflected positively on his social life. He hopes this loan will have the same impact.
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