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.
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