Hafez wanted to settle down, so he thought of starting a new business which could help provide his family with a good income that would lead to a secure and healthy life. Hafez chose to open a car wash and maintenance garage specializing in oil changes.
Hafez has requested a loan from Al Majmoua to assist in establishing his new business. This will be Hafez's third cycle as an Al Majmoua borrower, as he has proven to be a man with a good repayment history. All of his previous loans have positively affected his social and economic life.
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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