Ragheb is an ambitious 23-year-old single man. Eighteen months ago, he started his current carpentry business and is working hard to develop it as much as he can.
Ragheb had to quit school at an early age to start working in order to support his family members. With his two employees, he believes that he can expand his working sector and diversify his services. That’s why he decided to ask for a Youth loan from Kiva’s field partner Al Majmoua, to buy necessary wood and updated carpentry tools and needs to develop his business.
He is working hard so that his work and name will be well known in his region and he can manage developing his business widely.
This loan is special because:
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About Al Majmoua:
The 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.