Mohamed owns a café in the same area where he lives. He needs a loan of $1,000 so he can purchase more goods for his coffee shop. This includes increasing his inventory of soft drinks, juices, coffee, tea, biscuits and "narguileh" equipment (hubble bubbles). With the summer season, a lot of clients from the neighboring villages come to Mohamed's café in the afternoon and at night, so he needs to expand his products.
This is the first time Mohamed has requested a loan from Al Majmoua.
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