Hikmat works hard to develop and improve his business, that's why he has been working on increasing his stock of car engine spare parts as much as he can, through three consecutive loans applied for and received from Kiva partner Al Majmoua. All of his previous loans were invested in the same purpose, which helped a lot in increasing his income. His spare parts are imported from outside Lebanon through a friend who exports them upon his description.
Today, Hikmat is applying for a "Youth loan" from Al Majmoua, for the same purpose and hopes it will give the same positive effect. The previous loans resulted a very positive effect on his social and financial situations. He started building his dream house, in which he will start thinking of making a small beautiful family of his own in the future.
Having a family was a dream for him, and now it's possible that it will come true. He hopes to expand his business more in the future through starting selling imported original spare parts.
More information about this loan
This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources.
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