Mercy Foundation Provides Loan
Nelson, Microfinance RecipientIn the centre of Boaco, Nicragua there is a farmer called Nelson Alberto. On his little farm, he raises cattle and has managed to maintain them over the years so that he can elevate his earnings. He has done this with the help of his father, as well as a loan that he received previously. He paid back the loan as expected, and wants to continue with another one so that he can prosper. So he knows that with a new loan he will be able to get some more pasture to rent, as well as buy one more calf to rear. Nelson is grateful for the loan he received in the past. He requires the new pasture so that he can allow the fields where he feeds his cattle to recuperate over the winter. This will give him much better outcomes in the summer. He approached MiCredito for a loan to help him in his endeavors. He knows that his earnings can increase much more with this help.
MiCredito, Microfinance OrganizationLocally, his loan was disbursed by MiCredito, a microfinance organization and Kiva affiliate which is working towards the provision of social and financial support to underprivileged so that he can have a better financial future. They also offer services like home improvement loans, solar product loans, healthcare services and life insurance premiums for their members. The Mercy Foundation fully financed Nelson’s $325 loan through MiCredito and Kiva, allowing him to provide much better resources for his cattle. He is also able to increase his herd by buying a new calf to add to what he already has. These organizations are helping to change the lives of thousands of people, by giving an avenue with which they can go into business, and build on it. This is because all of these organizations have the same goal, to ensure the future financial security of low income entrepreneurs. Kiva sources donors like the Mercy Foundation, while MiCredito locally distributes the funds to underprivileged entrepreneurs on the ground. Would you like to change the life of a needy entrepreneurs in the same way? Why not visit www.kiva.org? Here, you will find a list of entrepreneurs who are in need of funding to help them realize their dreams. Notes
- This article was based on https://www.kiva.org/lend/784357