To succeed in business, you must start with something. Sheer will does not give an aspiring businessperson money to buy supplies.
World Concern believes in its microloan programs. We have seen how people seize the opportunities loans provide. We currently offer loans in Haiti, Bangladesh and Bolivia and center our focus on loans to women.
Microloans usually begin quite small, some are just $65. As and women show success with small loans, they have opportunities to expand their businesses with larger loans, up to about $2,000.
When these microloans are paid back with interest, funds are made available to others who need financial assistance.
We also teach loan participants the value of ethical business practices, planning, money management and accountability.
Some of the women we’ve helped in the past have started dairy farms in Bolivia, alpaca farms in Peru and grocery stores in Kenya. Some men we've helped began fish farms in Thailand and ranching operations in Kenya.
When people have a steady source of income, they are able to tend to their food and health needs. Their children can attend school. Instead of living day-to-day, families can plan and save for the future.
Read how a mother in Bangladesh was able to use a microloan to escape financial peril.
When you make a dollar a day, it's difficult to bear to pay six dollars to ride into town dozens of miles away just to visit a bank.
That's the situation men and women in Kenya face in some of the rural communities where we work. Because it's not feasible to bank in town, people hide money in their homes. With that comes the risk of losing it in a fire or being robbed.
To meet the unique needs of these remote villages, World Concern helps rural communities in Kenya form village banks. We - and the customers - are pleased with how they work.
Find out how these banks have attracted thousands of customers.
