Mona is a hard-working woman who seeks perfection in her business to keep her customers satisfied. With her good reputation, her business is expanding more and more through the new customers she's accepting and expecting in the future. Mona does well in her business because she has to make sure that it will be developed in a special professional way to provide her child a healthy and lovely future.
Mona is applying for a loan from Kiva partner Al Majmoua to expand her business capital by increasing her stocks of perfume brands, souvenirs, and gadgets in order to provide her customers with a wide variety of choices for different occasions. She hopes to expand her business more and more in the future because she loves what she is doing and she is sure that as long she's working right her business will improve her family's social and financial situation.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid