Mercy Foundation Provides Loan
Carlito - Microfinance RecipientThe small town of Molave-Mahayag Zamboanga del Sur in the Philippines is where you will be able to find Carlito, the microfinance recipient. He has been cultivating rice land for several years, and owns the land. Over the years, he has received assistance from Paglaum Multi-Purpose Cooperative. And he has used these funds to boost his income and explore more opportunities. However, his business faces a range of challenges related to growth. That is why he joined the Paglaum Multi-Purpose Cooperative. They provide microfinance services to people like him. The loan that he has requested will be used for the purpose of purchasing seedlings and compost. He knows that this will give the income that he gets from farming a large boost and make it possible for him to explore a range of opportunities.
Paglaum Multi-Purpose Cooperative - Microfinance PartnerHis loan was administered locally by the Paglaum Multi-Purpose Cooperative. This organization is dedicated to providing microfinance services to low income earners. Thus, they may become self-reliant and financially stable. The main purpose of this organization is to ensure that there is economic stability and sustainability of the people. This comes through the livelihood activities that it is able to facilitate. The final goal is to ensure that every person who gets a loan becomes self-reliant. The Mercy Foundation, with the help of the Paglaum Multi-Purpose Cooperative and Kiva, fully funded a $125 loan to the microfinance recipient, Carlito. These organizations are helping to change the lives of countless people by giving them the tools that they need to dig themselves out of the poverty that surrounds them. They are able to work together so well because they share the same goal. That goal is to provide microfinance services to those that need them the most. They especially want to help those that have no other way to access capital. Kiva brings entrepreneurs like the Mercy Foundation together. Consequently, the Paglaum Multi-Purpose Cooperative pinpoints locals who are in desperate need of funding, and distributes the funds to them. They are looking for other possible microfinance recipients like Carlito. If you would like to touch someone’s life in the way that the Mercy Foundation has touched Carlito’s, log on to www.Kiva.org. 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/787773