Mohamad is applying for his third loan from Kiva partner Al Majmoua in order to increase his business capital with used hardware to expand his business. He buys old used items and sells them to the recycling market at a good price. This is a hard and tough business, but Mohamad has grown used to it.
Mohamad is looking forward to expanding his business in the future through renting a piece of land and spreading all of his merchandise on it in a well separated way to make his items clear to sell to specific dealers.
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