Rabih has been working as a barber for fifteen years, since he had to start work early to financially support his family when they were in need. In 2008, he established his current barber shop, and his career is developing all the time; he is becoming more talented, and his customers are increasing. At the same time his family's living needs are increasing too, but his income isn't increasing enough to cover any sudden increased request. For this reason, he is acquiring a loan from Kiva's partner Al Majmoua, to pay for his childrens' increasing school tuition fees.
He is willing in the future to improve his shop's decoration to keep it attractive to his customers, and he might buy a car and set it for rental services as an additional income business.
More information about this loan
This loan is part of Al Majmoua's efforts to finance school expenses such as books, stationary, transportation and fees for students whose families have low incomes. Funds can be used for partial or complete payment of school expenses. By supporting this loan, you're enabling access to education for students with limited options.
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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