Mercy Foundation Provides Loan
A loan of $275 helped to buy feed and vitamins for her pigsThe Mercy Foundation funds to loan which helps microloan recipient Mary Jean, a pig farmer in the Philippines.
Microloan RecipientMary Jean is 37 years old and has four children. She is married and has four children who are in school. Mary Jean is in the agricultural business, raising pigs in the Philippines. She requested a PHP 12,000 loan through NWTF to buy feed and vitamins for her pigs. Mary Jean has been raising pigs for two years now, and has borrowed four times in the past from NWTF to sustain this. In the future, Mary Jean would like to save enough money so she can afford to send her children to college. The average annual income in the Philippines is only $7,000. So, microloans of even just a few hundred dollars can be extremely helpful for entrepreneurs like Mary Jean, who are trying to grow their businesses. With such a microloan, Mary Jean would be able to purchase critically needed supplies that could help her get to the next level of success. One day, she wants her business to be completely self-sufficient, financially. She is not there yet, however, with a microloan, and with a lot of hard work, she might be able to get there in the future.
Microloan PartnerNegros Women for Tomorrow Foundation (NWTF). Negros Women for Tomorrow Foundation, Inc. (NWTF) is a non-governmental organization established with an aim to help men and women achieve self-sufficiency, particularly in the province of Negros Occidental’s low-income communities. The organization offers its clients a wide variety of products, including loans for micro-entrepreneurs, hospital income benefits, life insurance, accidental death benefits and more. Kiva lenders’ funds will be used to expand the reach of these products to low-income urban and rural communities. With the help of the NWTF, the Mercy Foundation successfully funded this microloan to Mary Jean! Now she can purchase the feed and vitamins that she needs to help ensure that her pigs are healthy. This is very helpful for her business. And it will increase her chances of making good profits from the sale of her pigs. This can bring her one step closer to her goal of being able to finance her childrens’ education. There are many entrepreneurs around the world like Mary Jean. They are entrepreneurs who live in underserved nations, and who desperately need access to capital. If you would like to fund a loan to an entrepreneur in need, visit Kiva.org today! Notes
- This article is based on https://www.kiva.org/lend/835380.