Update on AliAli, 57, is a married father of four.
For 21 years, he has owned a construction supplies shop. His business is very remarkable and he has a broad experience in this field but he also needs to follow the updates in this sector. Just like his previous loan requests, Ali is requesting a loan from Kiva's partner Al Majmoua for the eighth cycle to be invested in improving his business through increasing his merchandise. His previous loans all met with very impressive results.
Ali has improved his business gradually. With the increased merchandise, he was capable of increasing his income and targeting more construction workers with the special offers he provided.
He hopes to keep on expanding and improving his business capital to make sure that his family is satisfied with what he provides.
Previous Loan DetailsAli,56, is a married father of four. For 20 years, he has owned a construction supplies shop. His business is very remarkable and he has broad experience in this field but also requires him to follow the updates in this sector. For this reason, he is requesting a loan from KIVA partner Al Majmoua... More from Ali's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid