Mercy Foundation Funds Microloan
BRAC Pakistan, the Microfinance Loan PartnerThe field partner for this microloan is BRAC Pakistan. BRAC Pakistan is a subsidiary of BRAC, one of the world’s largest development organizations with a focus on microfinance and economic empowerment. It offers micro-loans designed to help small businesses, very poor clients and others, in addition to health and education services. Kiva’s flexible, zero-interest capital will enable BRAC to expand its outreach in underserved regions and to women who have had no access to microfinance services. With the help of BRAC Pakistan, the Mercy Foundation has successfully funded this microloan to Dilshad! This is excellent news for her and her family. It is also great news for all of the members of her community who purchase items from her husband’s retail clothing shop. Even though she accepted the microloan, Dilshad will not have to pay interest on it to the Mercy Foundation. This is because the Mercy Foundation only provided it as a humanitarian offering, and not a business venture. So, Dilshad will only have to repay the principal to the Mercy Foundation. However, the local field partner may charge interest. There are many more entrepreneurs who need help getting financing around the world. If you would like to fund a microloan to an entrepreneur in need, please feel free to visit kiva.org today! Notes
- This article is based on https://www.kiva.org/lend/822312.