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Habib
Habib is a 54-year-old married father of five children. He owns a small convenience store where he has sold food, fruits and vegetables for a year. He used to work as a security man, but his age and the need to settle down encouraged him to start his own business. His wife is unemployed, and one of his five children is enrolled in public school. He is the only financial provider of the family, and his income is extremely low and does not suffice to provide for a family of seven individuals.

Habib contacted Al Majmoua to acquire a loan and purchase an ice cream freezer and ice cream in order to cope with the summer demand. This might enhance his income for this season. As for the future, he wishes to expand his shop.

Additional Information

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.

Tags

About Lebanon

  • $15,800
    Average annual income
  • 81
    View loans »
    Lebanon Loans Fundraising
  • $16,094,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Habib to purchase an ice cream freezer, and ice cream in order to cope with the summer demand.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 30, 2013
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2014