Today Ali is applying for his fourth Kiva loan, with which he will expand his services by dividing his shop into two businesses: the barber shop, plus a new business selling mobile phones for additional income. Ali hopes to stay up to date with new products for both businesses. One day, as his business grows, he hopes to open an international call center, a profitable business in his area.
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