Ahab has an additional source of income. Since his family is dear to him, he has to be ready for any sudden request, which is why he has been working in a small cafe where he has been responsible for the hookah section for five years.
Today, Ahab is applying for a loan from Kiva's partner Al Majmoua to buy iron scraps at a very good price and sell it at a very good price too, in addition to paying his children's school fees. He hopes to expand his scrap business and to buy a wider truck, where he can collect a larger mass of scraps in it.
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