To help his mother in meeting their needs, Mohamad used to help his uncle on his mother's side in his business. His uncle had a mobile phone shop, so Mohamad gained valuable experience in this area and he decided to start his own business in 2008.
Mohamad's shop is located in the camp where he is living. This is an issue, because he cannot expand his customer base outside the people living in the camp. Mohamad is sure that, if he could develop his shop properly, he could attract customers from his competitors.
Mohamad is therefore applying for a YOUTH loan from Kiva partner Al Majmoua, so he can increase his business capital to improve and develop his business. He is planning to invest in newly released mobile phones and accessories, and mobile prepaid cards. In this way, Mohamad intends to respond faster to his customer's requirements, and to improve his family's socioeconomic situation.
Mohamad hopes to continue to provide his family with the best living standards possible, and he is looking forward to expanding his business in the future and to start wholesale trading if possible.
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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This loan has been fully funded!