Toufic is a 55-year-old married man and father of three children. He owns a general store where he sells gifts, accessories, perfumes and stationary. Toufic works hard to provide his three little girls the best education and living conditions, and hopes to stay in good health to make sure that they will get everything they need. Toufic is applying for a loan from Kiva's partner Al Majmoua, in order to prepare himself for the coming Christmas season with special gifts, perfumes and accessories, in addition to the daily stationary requests. This is Toufic's fourth cycle as a Al Majmoua borrower; he has a good repayment history. His previous loans helped a lot in increasing his business income and improving his living conditions. His shop is located in a good region, but he hopes to move to a more commercial area in the future to expand his business.
About Al Majmoua – Lebanese Association for Development
The 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.