Sawsan is applying for a loan from Kiva partner, Al Majmoua, to update her business with newly released beauty items. She will also invest part of this loan to support her husband's business through buying special car spare parts that will increase his business income.
This is Sawsan's first experience as an Al Majmoua borrower. She hopes that future loans might help her in establishing her own separate beauty salon to expand her working zone and attract more customers.
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