Mona has been an Al Majmoua borrower for eight loan cycles, with an excellent repayment history. Her previous a loans helped a lot to increase her business capital and improve her family's social and financial situations.
Today Mona is applying for another loan from Kiva's partner, Al Majmoua, to buy a new washing machine, so she can stop washing her family's clothes manually using her hands, and to increase her business capital through buying special offers products. In addition, she will She will also buy a refrigerator and new cooking pots for her house. Mona is very proud of herself, and very happy with what she has accomplished. She hopes to keep on expanding her grocery business as much as she can, to please her customers and family members.
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