Mohamad is well known in the region and has a good reputation. He applied for a loan from Kiva partner Al Majmoua in order to start a new business to increase his income; he will open a small cafe, and he will also buy a car necessary to transport all the cafe needs in a short period of time.
Mohamad has been an Al Majmoua borrower for four consecutive cycles, whose paying-back history is in good standing. His previous loans were invested in the tobacco business and had a good impact. He hopes to keep supporting all his businesses and to manage them in a good way.
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