Running his business as a one-man-show, Refaat deals directly with wholesalers. To save time and costs, he recently bought a car to enable him to drive to his various providers. He is applying for a loan with Kiva’s Partner, Al Majmoua, to pay for the registration of his vehicle so he can begin using it. In reducing his expenses, Refaat can accumulate more savings for himself and his family and even consider expansion plans in the future.
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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