Mercy Foundation Provides Loan
Arismel’s StoryThe picturesque countryside of Soledad (Atlántico) Colombia is where Arismel and his family call home. This 49-year-old man is the father of three children. His sons are aged 7 and 24, while his daughter is aged 20. He has to work hard to support his family. He inherited his business from his brother, and took his six years of experience in the water treatment and bottling business into the work. Therefore, he can create a wide range of products, and provides some to distributors in his area. He works from 6 am to 5 pm each day, and also finds time to offer a day to day service. Because of this, Arismel approached the Fundacion Mario Santo Domingo (FMSD) for a loan. The loan would be used to help him purchase 3-liter plastic bottles, plastic for ice, plastic bottles for flavored water and other products to expand his stock. Thus, he hopes that the profits that he makes from the added yield will help him be able to give his family a better future.
Local PartnerHis loan was locally administered by the FMSD, a nonprofit organization and Kiva partner. The main aim of this organization is to provide access to financial services to people living in poverty so that they can become financially self-reliant. They provide a host of services to their clients, including microloans for small businesses and training seminars for small business owners. Through the FMSD and the Kiva lending platform, the Mercy Foundation was able to provide full funding for Arismel’s loan. By working together, these organizations are able to change the lives of people through microfinance provision. The way this system works is very simple, Kiva helps to bring donors like the Mercy Foundation together, while organizations like the FMSD help to identify people on the ground and distributes the funds to them. This system has proven to be excellent over a long period of time, as microfinance services are provided to the most needy people. In this way, it is possible to change lives. If you would like to change the life of someone in the same way, you should visit www.kiva.org. The website is host to a long list of entrepreneurs that are in need of funding. Notes
- This article was based on https://www.kiva.org/lend/804525