Ali is a 45-year-old married man and father of three children. For the past 20 years, he has worked repairing cars' bodies. He is highly experienced in his business, which attracts a lot of customers and improves his earnings. Ali applied for a loan from Kiva partner Al Majmoua in order to buy necessary products for his business, such as paints, iron clay and new released machines. He will also use a portion of the loan to cover some of his children's needs before they go back to school (clothes, shoes, etc.). This is Ali's second cycle as an Al Majmoua borrower. He is in good standing and has a good record of paying back loans. His previous loan was invested in improving his business and it brought remarkable results. He hopes to keep on improving his business as much as he can, in order to improve his family's living.
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.