To move his business forward, Ali started providing money transfer services, which is highly requested in his region since most of the villagers have relatives outside Lebanon who work hard to support them through transferred cash on certain occasions and for many other reasons.
Today, Ali is acquiring a Youth loan from Kiva partner Al Majmoua to start selling mobile phone accessories and prepaid cards, which will diversify his products and services to fulfill customers' needs and requests. Ali is planning in the future to continue expanding and developing his business through selling mobile phones and developing this business sector widely.
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