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Abbass
Abbass is a 28-year-old married father of two children who has been working as a baker for 11 years.
In 2003, he opened his own bakery to improve his living. His bakery is well known in his region, but he still needs to increase his business capital.
He is acquiring a youth loan from Kiva partner Al Majmoua, to buy necessary raw materials for his business such as flour, sugar and yeast. In this way, Abbass will be capable of increasing his production and selling, which will improve his family's socioeconomic situation.
His dream is to provide his children with the best standard of living and he will work hard to provide them the best education possible. He only had the chance to acquire his intermediate studies.
He is meeting almost all of the home delivery requests, but he is planning to start supplying schools which will increase his income and will require extra employees.

Additional Information

More information about this loan

This loan is helping support a borrower who is under age 30. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources. 

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

  • $5,900
    Average annual income
  • 36
    View loans »
    Lebanon Loans Fundraising
  • $14,824,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Abbass to buy necessary raw materials for his business such as flour, sugar and yeast.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2013
Listed
Sep 19, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2014