In 2002 Youssef opened a shop in Tyre. Most of his customers are loyal to him, so his business was not affect by the move. The new shop was larger than the old one, and it was possible for him to expand his business as he had more space for new machines and stock.
Youssef has taken a loan from Kiva partner Al Majmoua before for buying a new machine, and this reflected positively on both his social and financial situations. Now, Youssef is requesting another loan from Al Majmoua in order to increase his iron stock for designing new frames and other decorative items.
Mahmoud wants to keep improving the quality of business and sees working to gain customers' loyalty as the most important part.
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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