Mercy Foundation Funds Microloan
About the Microloan RecipientIn the scenic coastal municipality of Cordova in the Philippines, you will find Raquel. She owns a general store, where she sells a variety of items to friends, neighbors and tourists. This 46-year-old, married mother of four has to work particularly hard to provide for her family. Her hard work is especially important because all of her children are still in school. Raquel has been running her store for the last six years. She sells mostly consumable products such as rice, canned goods, and snack foods. But she also sells items such as feeds, shampoo and fabric softeners and conditioners. She recently approached the Negros Women for Tomorrow Foundation for a loan to help her to continue running her business successfully. The money received would go to buy additional inventory for her store. She hopes to make additional profits from these products. Furthermore, she hopes to save up enough money to send all her children to college so that they may have bright futures.
About the Microloan PartnerHer loan was locally disbursed by the Negros Women for Tomorrow Foundation (NWTF). NWTF is a Kiva partner and non-governmental organization that aims to help men and women attain self-sufficiency. Its main focus is the province of Negros Occidental, though it does operate in other provinces around the country as well. The organizations clients are offered a wide range of services to help them escape poverty. Such services include health and dental missions, business and livelihood workshops, microfinance services, life insurance policies and accidental death benefits. Through the Kiva lending platform and the NWTF, the Mercy Foundation was able to provide the $225 that Raquel requested for her loan. Together with these organizations, the Mercy Foundation are helping to transform the lives of millions of people around the world by giving them the opportunity to escape the cycle of poverty in which they are stuck. The main reason these organizations are so effective is because they all have one focus, to ensure that those who cannot access traditional forms of capital have an alternative source of capital. Kiva helps to unite donors like the Mercy Foundation, while organizations like the NWTF identify needy individuals on the ground and disburse the funds to them. If you would like to impact someone’s life in the same way, you should visit www.kiva.org. There you will find a long list of entrepreneurs that are in need of funding. Notes
- This article was based on https://www.kiva.org/lend/825059