Mariam requests a loan in the amount of $1,000 via Al Majmoua in order to pay off her debt. This is the first time that she has asked for a loan. Mariam states that she is successful with her work because of her good behavior and the high quality of her foods (especially her bread). Her clients are primarily her friends and neighbors. She notes that she decided to open her business because of debts that had to be paid off. In the future, she plans to expand her business.
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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