Hassan is a 59-year-old married father of five children. He owns a small convenience shop in his neighborhood. His wife is currently unemployed, while two of his children help him out in the store. All his children live under his roof, which means he has to provide for seven people including himself. His three other children are enrolled at private high schools and universities. The low revenue of the family combined with the tuition fees and other family expenses are a great burden for the family to live a healthy life. This is why Hassan decided to acquire a loan from Al Majmoua for the fifth time in a row. In fact, he needs the loan in order to settle the upcoming tuition fees of the schools and universities where his children are enrolled. As for the future, Hassan hopes to find job opportunities for his children.
About Al Majmoua – Lebanese Association for Development
The 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.