Ali opened his own bakery in November 2011, and it is going just fine because of his special talent and long experience in this field and because of his special customer service and menu. He sells special Lebanese "manakish," which is a traditional breakfast. It is similar to a pizza but it is folded and has a variety of toppings such as thyme, cheese, and meat, upon customers' requests. He also prepares and sells pizzas, which his customers claim are delicious just like like everything he prepares.
Ali is applying for a YOUTH LOAN from Kiva's partner Al Majmoua, in order to buy a car for both his business and social life. He hopes that one day he will be capable of buying the shop he is in and save the rent expenses to develop his business and improve his family's social and financial conditions.
More information about this loan
This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources.
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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