Mohamad used to work as an accountant, but just like almost all of the Palestinians living in Lebanon, his working opportunities are nonexistent, so the grocery store was the easiest and fastest business to cover his family's needs and expenses.
Mohamad applied for a loan from KIva's partner Al Majmoua, in order to increase his business merchandise with special cereals requested for winter, drinks and conservatives. He also hopes to open a larger shop in the future that might turn into a supermarket.
This is Mohamad's second cycle as Al Majmoua borrower,. He has a good payback history.
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