Saad Eddine is applying for his sixth loan from Kiva's partner Al Majmoua, in order to register his car, which is very important for his work, since he can use it to go and serve a client in need and to buy necessary tools and spare parts for his business. Saad Eddine's previous loans helped him a lot in increasing his business capital and his revenue, which has had a very positive impact on his socioeconomic situation. Saad Eddine is working hard to keep expanding his business and increasing his income.
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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