Mohamad is 56 years old and lives with his wife and four children in a town close to Saida, in the south of Lebanon. He owns a grocery store and has been a microcredit client of Al Majmoua for the past five years.
Mohamad is a very ambitious and motivated man. With the help of previous loans, he gradually expanded his business. He used the first loan of $1200 to purchase more goods for his shop. The second loan was to purchase a new truck to sell potatoes. Presently, he needs $700 to purchase a stock of juice bottles. Indeed, during the summer season there is an increased demand for such products and he needs to pay for the increase in inventory in cash to the supplier.
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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