Sobhi applied for his first loan from Kiva partner Al Majmoua in order to buy necessary tools for his business. He might also use part of the loan to finish building his dream house to get married soon. His house isn't too big since he is Palestinian, and the only place he can build it is in the Palestinian camp where he already lives. Sobhi is a hard worker who dreams of a bright future for himself and his family. He doesn't rest because he wants to expand his business and increase 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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