Mercy Foundation Provides Loan
Fredrick’s StoryIn the small town of Luanda in Kenya, you will come across Fredrick. He is a courageous and hardworking young man who is married, and has two children. Frederick has been working hard to provide for his family over the years, and for the past three years, he has been selling cereals in a retail outlet. He has a plan for the next five years where he wants to be a supplier. In order to meet his five-year goal, he needs to work hard and also increase the amount of cereal that he has available for sale. That is why he chose to approach SMEP Microfinance Bank, so that he can take advantage of the fact that they provide microfinance services to people like him. He requested a loan of 20,000 Kenya shillings, and he wants to use it to buy some more cereal. This is the second loan that he would have received from this bank.
Microfinance PartnerHer loan was administered locally by the SMEP Microfinance Bank. It is an organization that is dedicated to getting people out of poverty. This is so that they can feel empowered in all that they do. And also, SMEP helps them get out of the trap of being marginalized in society. They ultimately provide microfinance services to low income earners so that they may become self-reliant and financially stable. The Mercy Foundation, along with SMEP Microfinance Bank and Kiva, was able to provide full funding of Fredrick’s loan. These organizations are helping to change the lives of countless people. They accomplish this by giving them the tools that they need to escape the poverty that surrounds them. These organizations are able to work together so well because they share the same goal. That goal is to provide microfinance services to those that have no other way to access capital. Kiva brings entrepreneurs like the Mercy Foundation together, while the SMEP Microfinance Bank identifies locals that are in desperate need of funding. These funds are then distributed to them. Should you would like to touch someone’s life in the way that the Mercy Foundation has with Fredrick, log on to www.Kiva.org, and browse through the list of thousands of entrepreneurs that are in desperate need of funding. Notes
- This article is based on https://www.kiva.org/lend/812371