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Fares
Fares is a 47-year-old man who lives in Bourj El Barajneh, in the southern suburbs of Lebanon, with his wife and their three children. Fares has owned a garage for 25 years. He repairs cars. He requested a loan of 2500 US dollars from Al Majmoua in order to purchase tools for his garage. This is his fourth loan cycle and he has always paid on time.



His previous loans helped him improve his garage. His clients are his friends and neighbors. Fares decided on doing his business because of his experience in that line of work. In the future, he plans on expanding his work.

Additional Information

About Al Majmoua – Lebanese Association for Development

The 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.

About Lebanon

  • $5,900
    Average annual income
  • 71
    View loans »
    Lebanon Loans Fundraising
  • $15,000,325
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Fares to purchase tools for his garage.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Apr 7, 2009
Listed
Apr 3, 2009
Currency Exchange Loss:
N/A
Ended:
Apr 15, 2010