He applied for a loan from Kiva's partner Al Majmoua, in order to pay his children's tuition fees, do necessary maintenance on his car, and buy newly released fabrics. This will be his ninth cycle as an Al Majmoua borrower, with good standing and a good paying-back history.
His wide experience and accuracy in his business, attracted a lot of customers and spread his reputation among a lot of retail drapery dealers. Raouf hopes to keep on expanding his business as much as he can to complete most of his customers' requests.
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