Update on AliAli is a 42-year-old married man, father of five children. He has been the owner of a shoe store since 2008. He used to be an employee in the same field, formerly with his brothers.
Ali requested a loan from Kiva's partner Al Majmoua in order to buy a new autumn/winter collection. Ali is a hard worker; he puts so much effort into improving his business and increasing his business capital to stay in the market and face competition. He has a wide variety of women's and children's shoes and bags, attractive enough to his customers, and encouraging new customers to be his loyal customers.
This is Ali’s fifth time to request a loan from Al Majmoua, where every time he uses the requested loans for the same goal, and he gets the expected result. He is very proud of what he achieved since he stopped working with his brothers and hopes to expand his business to wholesale in the future.
Previous Loan DetailsAli is a 39-year-old married man from Lebanon. Ali is the owner of a shoe store since 2008, with 7 years of experience as an employee in the same field, formerly with his brothers. Ali requested a loan from Al Majmoua in order to buy new collections, especially before the coming holiday occasion,… 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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