It is his only source of income. That's why he has to take good care of it.
To do so, Ali applied for a loan from Kiva partner Al Majmoua, in order to change his car's engine to keep it in good shape. This is Ali's third cycle as an Al Majmoua borrower. All his previous loans were invested in improving his car's condition. He was a borrower in good standing as well.
Ali dreams of buying a new car in the future to avoid further mechanical problems.
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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