Laura Blank | 708.872.5265 (c)
The needNearly half the world’s people live in grinding poverty—surviving on less than $2 a day. To feed, educate and provide health care for their children, hardworking parents need a way to boost their incomes.
They may try to sell shoes in the market or start a sewing business. But without collateral or credit history, traditional banks won’t provide the small loans they need for their business to succeed.
To break out of poverty, the enterprising poor require the same resources as every determined entrepreneur—access to capital and practical training.
Leap Hong’s family suffered from chronic hunger and poor health in their Cambodian village. A small loan from World Vision enabled Leap to increase her harvests and send her son to school.
Community lending—Loan circles of 20 to 30 borrowers allow the poorest entrepreneurs to obtain credit by guaranteeing each other’s loans. Members develop leadership and a sense of pride through weekly meetings that offer training and prayer support.
Larger loans—Successful repayment of smaller loans makes clients eligible for larger individual loans, helping them to grow their businesses and employ others in the community.
Business coaching—World Vision’s staff provide eager entrepreneurs with coaching in accounting, marketing and management, all based on biblical and ethical business principles.
Community needs—To truly escape the cycle of poverty, poor entrepreneurs need access to clean water, stable food sources, health care and education for their families. World Vision offers microloans, along with these life-saving interventions, in more communities each year in order to bring lasting
Local and international markets—World Vision advocates and finds partners for poor entrepreneurs so they can overcome rural isolation, unfair trade practices and logistical barriers to wider markets.
Technology—World Vision identifies tools and technology that may not be available locally—such as new plant varieties— and helps business owners purchase what they need using microloans.
Information—Just like any business owner, the poor need information to run their small enterprises well. World Vision helps launch other small businesses and partnerships, such as cell phone services, that can provide access to information.