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
Katrina and Keely first met in the summer of 2013 while working on open space greening projects in Brooklyn, N.Y., and bonded instantly over urban farming and pop culture. After many discussions on the frustrations of finding financially sustainable jobs in urban agriculture, they decided the best solution was to start a project for themselves.
In 2015, the two joined forces to start Tinyfield Roofhop Farm on a small rooftop in Brooklyn, with the Manhattan skyline in the distance. Their goal was to provide high quality, hyper-local produce to consumers, restaurants, and markets.
With an idea for their project but a lack of funds to start their farm, Katrina and Keely hit a roadblock.
“We had no prospects of getting a traditional loan from a bank...no banks would loan to a business that did not have a financial history, so Kiva was really our only option. We would not have been able to start this project without that initial loan,” says Katrina.
This is the final story in our series spotlighting U.S. businesses in celebration of Independence Day.
Jay is a native of Detroit and considers himself a promoter of social good in his home city. After moving back to Detroit 6 years ago, Jay decided to spend his time creating opportunity for his community and Detroit youth.
Read more about Jay's story at Kiva's Medium page -->>
This is the second story in our series spotlighting U.S. businesses in celebration of Independence Day.
Farming is fraught with challenges — erratic weather patterns and invasive pests can damage crops, sudden outbreaks of disease can kill off livestock. New farmers are particularly vulnerable because the learning curve is steep and unforgiving.
For New England-native Erica Frenay, the risks were worth it...