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Hakob
45-year-old Hakob owns a metal lathe turning shop. He moved to this new place in January 2011 because he needed a wider place to do his business. He works in turning metals from non-useful to useful ones in addition to manufacturing non-existing metals on request.

Such a business is highly recommended but requires enough capital to keep buying updated machines.

Hakob is requesting a loan from Kiva partner Al Majmoua in order to buy a new, updated machine that is necessary for his business.

This is his second cycle as an Al Majmoua borrower. His last loan was also invested in buying a necessary machine, the thing that he intends to continue buying in the future.

Hakob is a married man with one child. He works hard to provide him with the best education and healthy living. He hopes to keep improving and developing his business and social life.

Additional Information

About Al Majmoua – Lebanese Association for Development

The 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.

About Lebanon

  • $5,900
    Average annual income
  • 94
    View loans »
    Lebanon Loans Fundraising
  • $15,275,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Hakob to buy a new, updated machine necessary for his business.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 13, 2011
Listed
Jan 12, 2012
Currency Exchange Loss:
N/A
Ended:
Mar 15, 2013