Tarek is working on improving and changing his power cables and network to keep his customers pleased with the service he provides, that's why he applied for a loan from Kiva partner Al Majmoua to buy new cables and renew his network.
Tarek is hoping to expand his working region through buying more power generators in the future to start providing electricity to neighboring villages at competitive prices. He hopes to keep on providing his family the best living ever, in addition to higher education.
Tarek was an employee until two years ago in 2010, when he decided to buy the generator from his boss and start his own business to improve his family's standard of living.
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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Success!! The loan was 100% repaid