Ali is acquiring a youth loan from Kiva partner Al Majmoua to buy necessary raw materials for his business development, such as cheese, thyme and flour, in addition to a power generator and necessary bakery items such as paper bags and cleaning supplies.
Ali is working hard to develop his bakery, which is specialized in producing the traditional Lebanese Manakish (a folded dough with special toppings served during the day, especially for breakfast).
He is working hard to expand his bakery to attract new customers and increase his income. He might open a special zone for eat-in services.
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