Mohamad has already had two loan cycles with Kiva's partner, Al Majmoua. His previous loan was invested in improving his business, and today Mohamad is applying for a new loan in order to increase his merchandise with special children's items for the spring and summer seasons. He will stock items such as coloring books, sea inflatables, games and many other entertaining items that will bring joy to the children during their Easter and summer vacations. This will also increase Mohamad's income and help in buying another car to replace the one that was stolen from him.
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