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
Most of the population on the Colombian Caribbean coast lives in poverty, and 17% lives in extreme poverty. There's little formal employment in the region, and many families make less than $3 per day. Coconut farming is one of the few economic opportunities available to Colombians living along this coast, but with yields contingent on weather patterns, it’s a tenuous occupation.
Coconut production also leaves communities with piles of unusable coconut shells, which if not disposed of properly can pose environmental and health hazards, giving home to poisonous snakes if left in piles, contaminating watersheds if thrown out to sea and polluting the air if burned. In 2012, a company called Cocotech was founded to solve the dual problems of underemployment and environmental contamination faced by coconut farmers in Colombia’s Caribbean coastal region.
On April 22, the international community celebrated Earth Day. To commemorate the holiday at Kiva, we published 2 stories about loan types that go to populations grappling with global climate change. The first story concerned agricultural loans, while the other tackled loans for clean water and sanitation projects.