In 2010, Aalaa opened his own maintenance shop, to increase his income and improve his living. His business is developing well, because of his good reputation and long experience.
Aalaa is planning to make a small family of his own, but he can't afford to pay his wedding fees from his business, because he has already used some of his business capital for his house and its improvements. That is why he is applying for a YOUTH LOAN from Kiva's partner Al Majmoua, in order to pay for his wedding fees, and to keeping his business capable of supporting itself in a well managed way.
He wants to keep on developing his business as much as he can, to be sure that none of his future children will face what he faced during his childhood. He will make sure that they will get the best education ever, which has always been a dream for him.
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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