Jaber has asked for a loan of $800 from Al Majmoua to start his new business. His will use the loan for trading used furniture. This is the first time that he requested a loan.
Jaber works all year long. He fishes all the time, whether the weather is cold or not. He usually uses a cage, a fishing cane, and a net. His customers are traders at Saida’s port.
When he first started his business, Jaber didn’t have enough funds to purchase material, which made him accumulate debt. Indeed, he needs the loan in order to help him start his new business selling used furniture.
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