In 2000, Ali decided to open a grocery store in his town. He decided on opening his store because of his experience in trading, as well as the fact that he wanted to have independent work. He offers bread, canned food, candies, beverages and more to his clients, who are people from his region. He says that his store is well located since it is on the main road and that is why he receives lots of customers.
Today, Ali requested a loan from Kiva partner, Al Majmoua, to purchase merchandise, a fridge for beverages and ice creams, as well as to change his store's window dressing. He hopes that it will increase his sales and therefore, his income.
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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Success!! The loan was 100% repaid