Amal is a 44-year-old married woman living in Beirut, the capital of Lebanon. She has been in the business of selling clothing and women's accessories like bags, belts and jewelry since 1997, in order to help her family improve their financial situation. She doesn’t own a shop; she sells from home. For the ninth time, Amal has requested a loan to purchase merchandise. She has always reimbursed on time. This loan will be used to buy clothing for the new summer season. Her earnings will be used to pay for basic expenses and to acquire other items, such as clothes and accessories that her customers request. In addition, she will use some of the loan to repair her car. Thanks to her previous loans, she has always been able to diversify her merchandise, improve her business and her financial situation.
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.