Mercy Foundation Funds Microloan
Kenyan Receives $450 Microloan for Soda Business RetailIn the heart of Kisauni, Kenya, a small coastal town, you will find Omar hard at work selling soft drinks to locals and tourists alike. He has been running his business for the last seven years, and the income that he makes goes to supporting his wife and three school-going children. He does not let the fact that his house has no running water discourage him, and he always works hard to take care of his family. In fact, he uses a microloan for soda business ventures to increase his profits. The biggest challenge he faces is the seasonality of his business, as some months are better than others for him. He recently joined the Yehu Microfinance Trust to help boost his business and to take advantage of the loans that they provide their clients. He requested a loan of 40,000 Kenya Shillings that would enable him to buy more soft drinks for resale. The proceeds from the sale of the drinks would help him meet his largest monthly expenses: school fees for his kids and food for the family.
Making a Difference in Omar’s LifeYehu Microfinance Trust locally administers his loan through Kiva.org. Yehu Microfinance Trust was created to help the people of the coastal districts of Kenya become more self-reliant by empowering them financially. The organization operates within 13 different districts and provides microfinance services, as well as basic business training so that its members can run their businesses more efficiently, which will allow those businesses to prosper. Using the platform of Kiva and the Yehu Microfinance Trust, Mercy Foundation fully funded Omar’s loan. He believes that his loan will not only transform his life, but will also transform the lives of his family and community. His hope is that he will be able to dig himself out of poverty. The formula that was used is quite simple; Kiva brings me and young entrepreneurs together, while the Yehu Microfinance Trust identifies locals who are in need of funding. The trust then distributes the loans Kiva donors give to these people. Omar is now on the road to providing a better future for himself and his family. If you would like to positively impact someone’s life in the same way, visit www.kiva.org, and browse through the extensive list of entrepreneurs that are in dire need of funding. Notes
- This article is based on https://www.kiva.org/lend/842261