Update on AliAli is a 22-year-old single man, working and living in Saida, in the south of Lebanon. He has been operating an auto repair workshop since 2008, during which time his business has grown steadily. He is well known in the region, and has a good number of clients who represent most of his relatives, friends and neighbors.
Ali is requesting a loan for the second time from Kiva partner, Al Majmoua, in order to buy a new car necessary for his newly established business. He has
started selling hardware, so he needs a car to buy and sell the hardware among neighboring villages, as extra income in his free time.
His previous loan was invested in purchasing tools and stock for his auto repair workshop, and it reflected positively on his social & financial situation that helped in starting a new business.
In the future, Ali hopes to open a larger shop next to the main road that will attract more customers.
Previous Loan DetailsAli is 20 years old, single and working and living in Saida, in the south of Lebanon. For two years Ali has been operating an auto repair workshop, during which time his business has grown steadily. While he didn't have many customers to start with, he is now very popular and has a good number of… More from Ali's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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