Rami requested a loan of 2000 US dollars from Al Majmoua in order to purchase raw materials such as oil, flour, thyme, cheese, and to have some liquidity. This is his second loan cycle and he has always paid on time.
His previous loan helped him improve his bakery. His clients are his friends and neighbors. When Rami first started his business, he had to face competition. He decided on doing his business because he wanted to improve his financial situation. In the future, he plans on improving his 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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