Kiva Helps Mercy Foundation Administer Microloan to Barber
Liza's storyLiza is 43 years old and married with four children. With three children currently in school, Liza works very hard to provide for them. Liza runs a general store in the Philippines and requested a PHP 12,000 loan through NWTF to buy more groceries to sell in her general store. Liza has been in this business for three years, and sells a variety of items such as snack foods, eggs, noodles, cooking oil, sanitary pads, etc. In the future, Liza would like to save enough money so she could afford to send her children to college. The average annual income in the Philippines, where Liza lives and operates her business, is $7,000. Because of this, small microloans, even of just a few hundred dollars can go a very long way in helping entrepreneurs like Liza. One day, Liza wants her business to be completely financially independent. Therefore, this microloan could help her bring it one step closer to this goal.
Microloan PartnerThe field partner for this microloan is the Negros Women for Tomorrow Foundation (NWTF). The 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. This includes loans for micro-entrepreneurs, hospital income benefits, life insurance, accidental death benefits and more. Hence, Kiva lenders’ funds will be used to expand the reach of these products to low-income urban and rural communities. With the help of NWTF, the Mercy Foundation successfully funds microloan to Liza! Now she can purchase additional supplies to grow her inventory. With an increased inventory, Liza can sell more groceries. This can help her business progress in the right direction. The microloan is excellent news for her, her family, and for all of the members of her community who purchase groceries from her store. In conclusion, despite the fact that Liza has now had her microloan request approved, there are still countless entrepreneurs around the world who desperately need access to microfinancing. 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 go a very long way. Notes
- This article is based on https://www.kiva.org/lend/826484.