Mercy Foundation Provides Loan
EntrepreneurThe scenic seaside municipality of Hinigaran is where you will find Gina and her family. This 39-year-old entrepreneur is married with three children, and she has to work especially hard to support her family as all her children are still in school. Most of her income comes from her general store, which she has been running for the last seven years, though she also gains additional income from a Tricycle passenger service that she also runs. Gina recently approached the Negros Women for Tomorrow Foundation for a loan for her general store. This is not the first time she has borrowed from the organization, and her last four loans were fully repaid on time. The money that she receives from this loan would go towards buying more groceries to sell in her shop, so that she can continue to grow the business. Her dream is to save enough money so that she can continue expanding her business, and have enough to pay for her children’s education.
Loan PartnerThe Negros Women for Tomorrow Foundation (NWTF) oversaw Gina’s loan locally. This non-governmental organization is proud of the holistic approach it takes to poverty alleviation. It combines its financial services with a host of development services to ensure that its clients achieve self-reliance. Some of the services that the organization offers include hospital income benefits, training courses, medical and dental missions, and much more.
Entrepreneur Receives MicrofinancingThanks to the NWTF and Kiva’s lending platform, the Mercy Foundation was able to provide full funding for Gina’s loan. These organizations are helping to change the lives of millions of entrepreneurs like Gina, by providing them with services that they would not usually be able to access. This gives them a chance to escape the poverty that surrounds them. And it allows them to provide a better quality of life for themselves and their families. The system is very simple to understand. Kiva helps to bring all the organizations together. Consequently, NWTF disburses the funds to needy individuals on the ground. The system is extremely successful. It is successful because all the entities are interested in the same thing, ensuring that low income earners have access to microfinance services. If you would also like to join the Kiva platform and help an underprivileged entrepreneur, you should visit www.kiva.org. There, you will find a huge database of people that are in need of funding. Notes
- This article is based on https://www.kiva.org/lend/824353