He is the owner of electric extension services in his village, and he has been working in this domain for eight years now. He is the major financial source of the family since he earns more than three quarters of the total family monthly income. This means that his family relies heavily on him to provide food, shelter and other needs.
He contacted Al Majmoua hoping to apply for a youth loan that would alleviate his burdens. He needs to purchase electric components for his business, and for his house.
He is the only member of the family who is able to pay off the loan. As for his future career plans, Hussein hopes to expand the business he is doing.
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