He is is family's sole breadwinner and his business is his only source for living since his wife doesn't work. He has to make sure that he is capable of covering almost all of his family's needs.
Ali is acquiring a YOUTH loan from Kiva partner Al Majmoua to increase his store's stock of newly released Brazilian gold to get ready for the coming Holy Christmas preparations and to ensure his customers will have a wide variety of items to choose what they like. This is his fourth loan cycle with Al Majmoua with a good standing repayment history. His previous loans helped him a lot in developing his business through increasing his business capital with special items that attracted customers' attention. Ali hopes to continue developing his business to move to a wider shop in the future.
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 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