It is common at all levels of this society for people to have multiple businesses, which is why Abbass also does body work on cars. He enjoys this business and hopes to improve and expand it as much as he can by opening a suitable garage and buying all the necessary equipment. Until he can afford the capital he needs to do this, Abbass has decided to apply for a loan to buy a new van to work on that he can use as a bus to generate additional income. He is applying for this loan, his third, from Al Majmoua, a Kiva partner, after repaying his first two loans completely and on time and thereby becoming a borrower in very good standing.
Abbass is aiming to earn more profits so that he can provide a better life to his family and and open a repair garage.
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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