Hassan is applying for his first loan from Kiva partner Al Majmoua in order to perform necessary maintenance on his rented car because it is his only source of income. Hassan is very excited for this loan since Al Majmoua is the only Lebanese NGO who supports the Palestinian refugees and because he has to make sure to keep his business going. Hassan can't afford to buy a car of his own, so he has to take good car of the available one. He hopes to buy his own car and a public driving plate 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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Success!! The loan was 100% repaid