Mercy Foundation Provides Loan
$400 Microloan Funded for TaniaTania lives in the little village of Samatau Fou in Samoa with her three children. The 32-year-old has to work hard to provide for her family. So she provides for her family through a small convenience store that she has operated in the village for over a year, selling consumable goods to her friends and neighbors. Tania approached South Pacific Business Development (SPBD) for a microloan to help her buy supplies for her store. The money will be used to buy a box of chicken, a sack of flour, a sack of sugar, a sack of rice, a box of tinned fish, a box of vegetable oil, a box of sausage and plastic bags, which would all go towards the business.
Microloan AdministratorHer loan is locally administered by SPBD. It is a local Kiva partner and microfinance organization that helps to improve the conditions among poverty-stricken families. It does this by providing them with credit, training and guidance to help them start, grow, and maintain small businesses, which in turn helps them to be economically self-reliant. The funds that are provided by Kiva lenders helps the organization to expand its reach in the South Pacific region, thereby allowing them to help even more poverty-stricken people. Using Kiva’s lending platform and on finding out about her needs, Tania’s loan was fully funded by the Mercy Foundation, thus giving her the opportunity to continue running her business. Through organizations like SPBD and Kiva, many entrepreneurs are getting the chance at a better quality of life. Therefore, without these microloans, many of these people would not be able to access the capital that they need to survive. In conclusion, the principle is very simple: Kiva finds people who are in need of loans. Then SPBD disburses the funds to those in need. So if you would like to like to change someone’s life the same way, why don’t you visit www.kiva.org. The website has thousands of needy entrepreneurs who are looking for the same opportunities offered to Tania. As a result of funding a microloan, you could change the life of a family, or indeed, a whole community. Notes
- This article is based on https://www.kiva.org/lend/840963