Youssef is applying for a Youth Loan from Kiva's partner, Al Majmoua. He will use the loan to buy a special machine that he needs for his business, which detects carbon monoxide, if present in a car's engine. He will also increase his capital by buying car lubricants, to make sure that he can respond to several clients' requests at a time, without any delays caused by not having the right product in stock.
This will be his second loan from Al Majmoua. His previous loan helped him move to a larger working place, where he can accept more cars and distribute his products freely. He hopes to expand his work, in accordance with customers' needs.
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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Success!! The loan was 100% repaid