Khaled is applying for his third loan from Kiva partner Al Majmoua in order to buy necessary wood for his business to respond more quickly to customer needs. His previous loans helped him a lot in his business, which positively impacted his family's quality of life.
At the beginning, Khaled faced a lot of financial problems due to his lack of experience in business, but he was capable of managing them due to his special talent in his domain. Today he is looking forward to increasing his customers and opening a showroom in the future.
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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