Mercy Foundation Provides Loan
Microloan Recipient, KadzoKadzo is a married mother of four children, all of whom attend school. Furthermore, she lives at her own house that neither has electricity nor piped water. Her greatest monthly expense is food. For the past ten years she has operated a clothes selling business, selling from door to door to her neighbors and passersby. She faces a major challenge in high cost of transportation. She dreams of expanding and establishing a boutique business in the future. With the loan that she requested of Kes 20,000 she wants to purchase bales of clothes for resale. Therefore, she decided to join Yehu to access loans to boost her business. If Kadzo can purchase extra inventory with funds from a microloan, then she will be able to generate higher profits. This is because the more she can sell, the more she can make. Some of the profits that she makes from her sales can be used as operating capital and can help pay for things like transportation and future inventory. The average annual income in Kenya, where Kadzo lives and operates her business is only $1,800. So a microloan, even of just $225 can make a strong positive impact on Kadzo’s business.
Mercy Foundation Funded MicroloanThe field partner for this Microloan is the Yehu Microfinance Trust. Yehu Microfinance Trust was founded in 1998 as a project of CHOICE Humanitarian Kenya. In July 2007, Yehu became a separate entity from CHOICE and was registered as a trust. Since then, Yehu has expanded to cover over half of Kenya’s 13 coastal districts. The Mercy Foundation funded microloan with the help of Yehu. Now Kadzo will be able to purchase the clothing that she needs in order to generate profits from reselling it. Both Kadzo and her community will help from the maintenance and growth of her business. So this microloan is helpful to more than just one person. Despite the fact that Kadzo’s microloan has been funded, there are still countless other entrepreneurs around the world who need access to capital. If you would like to provide a microloan to an entrepreneur in need, please feel free to visit Kiva.org today. Even small amounts can be very helpful to many people. Microloans can help many underprivileged entrepreneurs reach the next step up for their businesses. Notes
- This article is based on https://www.kiva.org/lend/840370