Ali is a 21 year old single man who has been the owner of a barber shop since 2009 with 11 years of experience. Ali started working early because of his family's low income, so he had to work while he was still a child who needed to play. He is regretting that he did so, because his family comes first and he became mature as he knew life's real face early. Ali is requesting a loan from Al Majmoua for the second time in order to do necessary renovations to his shop such as changing the painting color, pasting floor tiles and fixing the shop's roof top. Ali might also change his chairs if he saves any money after making the requested changes. Through his last loan, Ali paid for an advertisement for his shop, which came with positive feedback and increased his clients and income at the same time. He was a borrower in good standing, and he's planning to be the same with this requested loan.
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.