Omar requests a loan in the amount of $1,000 via Al Majmoua in order to purchase sewing machines. This is the first time that he has asked for a loan. Omar expects that the loan proceeds will enable him to improve his business by expanding his production capabilities. Omar feels that he is successful in this business because he has good management skills and lofty ambitions. When he first started his business, he did not have much cash, but his business has been doing well in recent years. In the future, he plans to expand his business further.
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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