Alice requests a loan of $2000 from Al Majmoua to purchase merchandise for her store and raw material for her bakery. This is the first time that Alice has requested a loan.
Alice is special in her work because she is known for her Mankoucheh. Her clients are her friends, neighbors and others. When she first started her business, she had some financial issues because she didn’t have enough cash. Alice decided to start her business because she wanted to supplement her family’s income and do independent work. In the future, she plans on expanding and improving her business.
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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