Zahy, a 50-year-old man living in Aley, Mount Lebanon with his wife and their four children, has owned a shoe shop for eight years. He decided on opening his shop because of his extensive experience in sales, which led to a great deal of networking. When he first started his work, he had some difficulties making himself known to the public because he didn’t have a budget for advertising, having to content himself with word of mouth; as well, early on he didn’t have enough cash to purchase all the needed merchandise for his shop. To improve his work, Zahy turned to microfinance and is now requesting his fifth loan from Al Majmoua in order to purchase merchandise for the coming season. For the future, he plans to keep on improving his work.
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.