Today Souad is acquiring a loan from Kiva partner Al Majmoua to increase her business merchandise with a new autumn and winter clothes collection. Souad will also buy new cosmetics and home decorating items that will attract customers' attention and increase her income.
This is Souad's eighth cycle as an Al Majmoua borrower with good standing and a good paying-back history. Through her previous cycles, she has been able to diversify her products. She hopes that one day she can open her separate business outside her house and expect new 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