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
This post is the final post of a 3 part series highlighting some of the innovative loans that the Kiva community has helped us test and scale.
Small Medium Enterprises (SMEs), those with 5 to 250 employees, are responsible for employing over 75% of the developed world’s workforce, but in low-income countries they provide only half of those jobs (about 30%).
Attention all educators and parents!
In the rural town of Pucará in northern Peru lives Avelino, a 62-year-old coffee farmer. As our fellow in Peru Gordon Thompson puts it: “there is something refreshingly "grounded" about him, and I realize that the reason he has trouble talking about dreams is that his are essentially the same as everyone's. Some of us chase dreams in business, or firefighting, or sales, or medicine, or teaching--he pursues them with coffee.” You can read more about Avelino here!
This post is the second of a 3 part series highlighting some of the innovative loans that the Kiva community has helped us test and scale.
Kiva has been on the forefront of technological and financial innovation in the social sector for the past 10 years. How do you stay on the forefront of something that’s always changing? You adapt and evolve.