Fadi is applying for a loan from Kiva’s partner, Al Majmoua. He will use the money to buy a new stock of wheels. This is Fadi’s first loan from Al Majmoua, and he is optimistic about this experience. In the future, he intends to open his own business, and he believes that by then, he will have sufficient market knowledge and expertise for this purpose. This will help Fadi provide a better living standard for his wife and children.
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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