Mahmoud is applying for a loan from Kiva’s partner, Al Majmoua. He will invest the money in buying more phones, accessories and recharge cards; this will considerably increase his revenues. Mahmoud’s client base is wide and can expand more given the high demand for this industry in Lebanon. Mahmoud hopes that one day he can become a local dealer for the Nokia brand in Lebanon.
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