Ali is working hard to improve his family’s living, and his painting business isn’t good enough to cover the unexpected needs that have arisen. So he thought of starting a new, extra business, which he believes will provide him with a good income throughout the whole year. His existing painting business is almost seasonal; his high season is during summer, and he barely works during the autumn and winter seasons.
For his next step, Ali is acquiring a loan from Kiva partner Al Majmoua. He will use the loan to open a computer shop, where people can come to play games and to access the Internet, for projects and entertainment. His future plan is to expand his current and newly-established businesses.
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