Microlending Helps People to Help Themselves Up and Out of Poverty

The members of the St. Michael Parish Social Concerns Ministry have made microloans to many third world business women and men through the microlending site “Kiva” (www.kiva.org).  Meet some of our business partners:

 

Jacqueline in Rwanda is steadily paying back the loan she requested for her general store.  The loan allowed her to expand her business; the increased profits enabled her to pay school fees for her children and pay medical insurance for her family.

Maria in the Dominican Republic has received and paid back several loans over the past five years.  She has a small business selling clothing and shoes.  The loans allow Maria to stock up during months of high demand when the sugar cane harvest booms, smoothing out her income during the slow months.  Maria is married to Polo, and they have four kids, Eleana, Mario, Marta and Samuel.

Jean Martin in the Democratic Republic of the Congo used his microloan to purchase ten used tires and tubes, and resell them at a profit.  He is grateful to the lenders around the world that allowed him to increase his stock of merchandise.  Jean is the chairman of a community bank, Abia Plus, whose members pledge loan repayment of all members.

Why is microfinance so important?  

Microfinance champions the idea that low-income individuals are capable of lifting themselves out of poverty if given access to financial services normally denied to the poor.

Who manages the microloan overseas?  
Organizations such as Kiva reach out to the world through an extensive network of microfinance organizations which screen borrowers, disburse loans, and collect repayments.  Charities, such as Catholic Relief Services, also provide training in money management, literacy, agriculture, etc.

Can I start with just $25?  
Yes!  With a loan of as little as $25, you join with lenders from around the world to fund loan requests by business women and men.  The total loan amounts are a few hundred to a few thousand dollars.

Defend the cause of the weak and fatherless; maintain the rights of the poor and oppressed. --Psalm 82:3