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World Vision, the global Christian humanitarian behemoth, has turned micro. Microfinance that is.
Microfinance, for those unaware, is the concept of providing a small loan (as low as $25 US) to help a person in the developing world start a sustainable business. When that loan is repaid, the person can borrow a larger amount to expand or the money can then be used to help others.
Does it work? You bet is does! To date, over 98 percent of microloans are repaid (This puts American consumer loan repayment to shame.). Why? Careful selection and community-wide accountability (often other village members are cosigners on the loan) makes for a transaction that is almost certain to be repaid.
Many long for ways to provide solutions to the poor than move beyond handouts. World Vision’s new microfinance program is one way to accomplish this goal.
Of course, you can also donate in someone’s honor for the holidays a well, so take a moment to check it out.
With a little vision, anything is possible.
From WorldVisionMicro.org:
Meet an entrepreneur. Fund a loan. Give a hand up.
Micro lets you fund small loans to empower hardworking men and women in poverty. Connect one-on-one with the entrepreneur
of your choice — each with a sound business idea, but no access to
credit to qualify for a traditional loan. Then share in the joy of their
success.
Your small loan is a proven investment, it will:
- Go to a pre-qualified borrower
- Have an average repayment rate of nearly 99%
- Recycle to other entrepreneurs upon repayment
- Help create jobs, start or expand businesses, and alleviate poverty
Know you’re partnering with a leader in economic development
Micro is brought to you by World Vision, a Christian humanitarian
organization dedicated to working with children, families, and their
communities worldwide to reach their full potential by tackling the
causes of poverty and injustice.
World Vision:
- Has given small loans to the impoverished since 1993
- Provides microfinance services in nearly 50 countries
- Impacted nearly 1 million jobs in the last year
See more at http://www.worldvisionmicro.org/pages/how-micro-works.
