Mercy Foundation Provides Loan
Meriam: Retailer Receives MicroloanAs a married mother of 11 children, Meriam works hard to support her family. She has a rice retailing business in the Philippines, and also earns additional income from a general store. Meriam is borrowing PHP 12,000 through NWTF in order to buy more stock of rice to sell. Meriam has been sustaining her business activities through her past 12 loans from NWTF. She hopes that her hard work will help her attain her dream. That dream is to save enough money to expand her business and repair her family's home. In the Philippines, where Meriam lives with her family, and runs her rice retailing business, the average annual income is just $7,000. This means that microloans can have a very strong positive impact on the businesses of entrepreneurs in the nation like Meriam. This is true even if they are just a few hundred dollars in value. One day Meriam wants her business to be completely financially self-sustaining. It is not there yet, but this microloan could help her get one step closer.
NWTF: Microloan Partner Funds MicroloanThe field partner for this microloan is the Negros Women for Tomorrow Foundation (NWTF). Negros Women for Tomorrow Foundation, Inc. (NWTF) is a non-governmental organization established with an aim to help men and women achieve self-sufficiency, particularly in the province of Negros Occidental’s low-income communities. The organization offers its clients a wide variety of products. Such products include microloans, hospital income benefits, life insurance and more. Kiva lenders’ funds will be used to expand the reach of these products to low-income urban and rural communities. With the help of the Negros Women for Tomorrow Foundation and the Mercy Foundation, the retailer receives microloan in the amount of $275. This is excellent news for her and her family. And the members of her community who purchase rice from her business will also benefit. Meriam will now be able to purchase the extra inventory that she needs for her business. This can help her to generate more sales. Despite the fact that this microloan has now been funded to Meriam, there are still countless entrepreneurs around the world who desperately need access to capital. If you would like to provide a microloan to an entrepreneur in need, please feel free to visit kiva.org today! Even small amounts can go a very long way! https://www.kiva.org/lend/824322