Working from his house, Atef needs to renovate the room he uses for narguile preparations; over the years, it got very tainted due to charcoal burning. He applied for a loan from Kiva partner Al Majmoua. He will also invest part of the loan in doing necessary maintenance in his house, in addition to paying extra school fees. Additionally, he will use the rest of the money for his delivery car’s engine maintenance.
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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