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Tarek
Tarek is a 51-year-old married man and the father of three children. He has been working selling spare parts for cars since 1987. Tarek is very experienced in his business and strives to know more all the time. He is well known in the region with his good reputation and special competitive products and prices. Tarek always work hard to update his products with newly-released spare parts to make sure that all of his customers' needs are covered.

He has improved and developed his business recently through loans from Al Majmoua, a Kiva partner, and is in good standing due to his repayment history. This is Tarek's sixth loan cycle as an Al Majmoua borrower and he is sure that the loan will have a positive effect on both his social and financial situations.

Tarek today is applying for a loan from Kiva partner, Al Majmoua, for the same reason as for his previous loans, in order to buy newly-released spare parts for his business to meet the market's needs. Tarek hopes to stay capable of competing with newly-established competitors and other big companies.

Additional Information

About Al Majmoua – Lebanese Association for Development

The 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.

About Lebanon

  • $5,900
    Average annual income
  • 73
    View loans »
    Lebanon Loans Fundraising
  • $15,072,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Tarek to buy newly-released spare parts for his business.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 30, 2012
Listed
Jul 31, 2012
Currency Exchange Loss:
N/A
Ended:
Dec 17, 2013