Wafaa has taken out and repaid 13 loans from Al Majmoua, and made good use of each of these loans to expand and improve her business. She is applying for a new loan, also from Kiva's partner Al Majmoua, to buy new heaters to sell this winter. These heaters are very important to have, in part because her village is hosting displaced Syrians who are searching for a shelter during a hard political time and a poor security situation
Wafaa hopes to keep expanding her business and meet more of her customers' needs and 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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