Her husband is a taxi driver and works as a house painter as an additional income, but both business incomes are not enough to provide for his entire family. Naayem has two children in a private school, which means she also has schooling expenses to settle on top of all the other expenses. Sending her children to school is very important for her because she wants them to have the opportunity that she unfortunately could not get, since the highest education she ever got was an intermediate school degree.
Thus, improving her socioeconomic situation would help her keep her children in school, without it being a heavy burden on the family's shoulders. This is how she decided to contact Al Majmoua and acquire a loan. In fact, she needs to buy extra raw materials (flour, oil) at good prices that would increase her production and income in her bakery, and make necessary renovations to her working place. In the future, Naayem wishes to expand her business.
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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