Nahed is applying for a loan from Kiva’s partner, Al Majmoua Lebanese Association for Development, in order to perform necessary maintenance on his house. He can’t afford to pay for this external need from his business since his income barely covers his family’s required needs, and not more. He has to fix the ceiling from the winter’s leakage, to keep his house a healthy living environment for his beloved family.
This is Nahed's fifth loan cycle as an Al Majmoua Lebanese Association for Development borrower. He has a good-standing history of paying back his loans. His previous loans helped him a lot in developing his business and in covering his family’s needs. They made a positive push forward, according to his socioeconomic situation.
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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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