Microfinance is the practice of making financial services available to the poorest people in the world earning about $ 1 per day who do not have access to typical banking services.
By helping the active poor who make $1.25 per day and have the desire to help themselves, small amounts of money can go a long way in making them self-sufficient.
When jobs are created people survive on their own as their self-esteem and outlook on life improve dramatically. The income generated from their new businesses allows once poor families to begin to fulfill basic needs transforming one life at a time as each person escapes the tragedies of poverty.
In the next 10 minutes, 50 people will die from hunger. Our Mission is to Make an Impact by Investing and Transforming the Life of An Entrepreneur
Field Partner Testimonials
In March, we introduced you to Jorgelyn Palima and Gerilina Ybanez, two Filipino women who used loans to rebuild after the devastating effects of Typhoon Haiyan.
The typhoon swept away Jorgelyn’s sari-sari business and home, leaving her living in a shelter made of salvaged materials. With the help of Kiva’s Field Partner in Ormoc, NWTF, Jorgelyn received materials such as coco lumber and gypsum board to reconstruct her home.
Along the way, I&P is carving out a unique niche for itself in the world of small and medium enterprise loans. The investment group will only work with African businesses that have a record of outstanding social and environmental impact. It also requires businesses meet a set of strict criteria, including no use of child labor, implementing anti-discrimination policies, managing supply chains responsibly and fighting corruption.
In exchange, I&P addresses a major need in the “missing middle,” the segment of businesses that are too big for many microfinance institutions, but too small for traditional capital sources. I&P offers relatively large loans, at lengthier loan terms, giving companies the space and time to grow.
Loans will be between $10,000 to $50,000. One example is this $15,000 loan that funded within a day, for a business that replaces diesel power generators with solar plants for uninterrupted access to clean water.