Racha is a hard-working woman with a very good reputation. She initially started this business to supplement her parents' income. At present, her business is improving, but she finds that it needs to be updated with the special tools and machines necessary to provide for customers' needs and client demand.
Racha has applied for a youth loan from Kiva partner Al Majmoua in order to buy necessary hairdressing tools and machines for her work. She also intends to use some of the funds to prepare a room in her house that will be customized for the business. A private salon area will provide a greater level of privacy and relaxation for her customers.
Racha is confident that in the future she will be able to invest in opening her own ladies' beauty salon that will provide many services.
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