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.
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