Nazih plans to further expand in his field and for this reason, he is applying for a loan from Kiva’s partner, Al Majmoua. He will invest the money from the loan in buying diesel for his water pump motor, an additional planetary for tobacco, and hiring temporary workers.
Nazih is satisfied with this lending model, which grants him continuity in his work. In spite of his great capacity in this field, he has suffered a lot of difficulties due to costly labor and the government negligence of the agriculture in Lebanon.
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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