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Farouk
Farouk is a 31-year-old single man. He has worked in the scrap-trading business for 15 years until he opened his own shop. Farouk is experienced in this industry and has earned a wide client base including his friends, neighbors and even tourists in the region. The parts he sells are of good quality while he maintains competitive and reasonable pricing.

Farouk is quite ambitious and aims at opening another branch of his business. He is applying for his first loan from Kiva’s partner, Al Majmoua, which he will invest in buying some metal scraps and vehicle parts. By increasing his product offerings, Farouk’s sales and revenues will rise, allowing him to save more money for his business expansion.

Additional Information

About Al Majmoua – Lebanese Association for Development

The 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.

About Lebanon

  • $5,900
    Average annual income
  • 81
    View loans »
    Lebanon Loans Fundraising
  • $15,250,300
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Farouk to buy some metal scraps and vehicle parts.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 10, 2012
Listed
Jan 9, 2013
Currency Exchange Loss:
N/A
Ended:
Dec 17, 2013