In 2005, Mouwafak opened his own gifts and gadgets shop to improve his income and develop a better living. He loves his business since it puts a smile on children's faces. Mouwafak applied for a loan from Kiva's partner Al Majmoua in order to increase his business capital for special Christmas and New Year gifts and gadgets. This will be his third cycle as an Al Majmoua borrower, with good standing in repayment history. Mouwafak assures lenders that his previous loans made a positive impact on both his social and financial situations.
He hopes to keep improving his business to continue pleasing and responding to almost all of his 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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Success!! The loan was 100% repaid