Loan Initiative for Financial Transformation - LIFT 3

Building on the successes of LIFT 1 and 2, MIF launched the third Loan Initiative for Financial Transformation (LIFT 3) with the goal of extending vital support to entrepreneurs and non-bankable MSMEs in the Bsharri region. Similar to its previous editions, this project aimed to provide targeted financial assistance to local businesses in the region of Bsharri, an area identified as having potential for entrepreneurial growth and development. MIF aimed facilitate access to loan by covering the interest rate, the loan insurance, and the application fees on behalf of the beneficiaries. This approach reduced the financial burden on local entrepreneurs and MSMEs, making it easier for them to secure the capital needed for business operations and expansion.

LIFT 3 also provided grants, alongside microloans, to identified beneficiaries facing severe financial challenges with loan repayment. These grants were specifically targeted at those experiencing extreme vulnerability, providing critical support to stabilize their businesses and improve their financial situations.

As a result, LIFT 3’s impact was highly positive, with many beneficiaries reporting significant improvements in their business operations, such as increased income, enhanced business performance, and sustained employment levels. Underscoring its effectiveness in increasing economic growth and stability, LIFT 3 portrays MIF’s ongoing commitment to facilitating financial transformation and sustainability of local businesses.