She sells home detergents and cleaning products at home in order to help her husband in making their living. Mayssam is a hard working woman who seeks perfection in her business to keep her customers satisfied. With her good reputation, her business is expanding more and more. Although she works at home, most of her customers like to come and buy from her and enjoy visiting her a lot.
Mayssam does well in her business. She is applying for a loan from Kiva partner Al Majmoua in order to expand her business capital with new detergents and cleaning products with special prices.
She is working to expand her business more and more in the future, and she hopes to open a wholesale shop in the future.
Mayssam will also invest part of her loan in fixing her plumbing to keep her house a healthy living place.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid