The Mercy Foundation helped fund a microloan for Genara, a local shop owner in the Philippines.
Here is Genara’s Story
Genara is an experienced entrepreneur. She lives in Compostela, Cebu, Philippines and is married with one child. At 61 years old, she is still determined to work hard and provide for her family and their needs. Her general store has been in operation for more than ten years, and she wants to elevate the stock that she has available. For this, she has chosen to source a loan from the Negros Women for Tomorrow Foundation (NWTF).
She made the decision to contact NWTF for some financial assistance so that she could elevate the stock in her shop and earn more. She applied for a loan of 20,000 PHP. She has a good history with the foundation, having already taken out six loans and paid them back in full as required. She intends to purchase biscuits, noodles, detergent soap, shampoo, candies, soft drinks and so on, so that she can sell them.
Like the loans that she had received earlier, Genara’s loan was locally administered by the NWTF, a non-governmental organization and Kiva partner. This organization has one main goal linked to micro finance. This goal is to make sure that the low income families of the province of Negros Occidental become financially self-reliant. They are able to facilitate loans to meet the needs of a host of different micro-entrepreneurs including additional services like life insurance policies, livelihood workshops, dental and medical missions, and microfinance services.
Through the Kiva lending platform and the NWTF, the Mercy Foundation chose to provide full funding for Genara’s loan. All these organizations have the same goal so when they work together as Kiva, Mercy Foundation and the NWTF. By joining forces in this way, they are able to elevate the lives of the people in the Philippines and help them break out of a poverty cycle.
To meet their collective goal, they have one simple system. Kiva brings organizations like the Mercy Foundation, with others like the NWTF which is tasked with identifying entrepreneurs on the ground who are in need of funding.
Kiva is a lending that everyone in the world has access to. If you want make a change of people in the lives of people around the globe in the same way as Mercy Foundation, you should visit www.kiva.org. There are thousands who are in need of funding.
Dr. Joseph Johnson is the founder and principal of GoodField Investments, a firm that endeavors to be the leading niche entrepreneurial startup, ministry, and real estate investment company leaving a strong earthly and eternal legacy. For more about Dr. Johnson and GoodField, visit this website.
Notes
1. This article is based on https://www.kiva.org/lend/781701
