For the past eight years Mahmoud has maintained a perfumery where he prepares and sells perfumes. It is his family’s main source of income, so he’s been working hard to develop it. At the beginning he faced many problems because he didn’t have experience in this domain, but now his customers recommend him to others.
Today Mahmoud is applying for a 1,000 USD loan through Kiva’s partner Al Majmoua to add accessories, bags and other merchandise to his shop so as to expand his business and diversify his products. In the future he is going to add school supplies to his shop.
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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