February 19, 2013
How a microloan can empower a hardworking woman in need
One of the best ways to empower a woman in honor of International Women’s Day, March 8, is to fund a small loan that she can use to start or build a business, care for her family, and invest in her community.
Mariam is a farmer in Ethiopia who raises sheep. With a loan from World Vision, she plans to purchase more sheep to raise and sell for a good profit.
Mariam is confident that her business can succeed. When it does, it will benefit others in her community as well.
She will soon have money to spend at other local vendors, stimulating the local economy and providing basic necessities for her family. Mariam is excited to use the profits from her loan to improve the lives of her children.
Mariam is a mother of seven. With her additional income, she’ll be able to send her children to a good school. In the future, she also hopes to buy cows to supply the community with a source of nutrition.
How microfinance works
Hardworking entrepreneurial women all over the world can benefit from microloans issued through World Vision. These loans are most helpful for those who have sound business plans but lack the capital, collateral, or credit history to secure a traditional loan.
With their microloans, the entrepreneurs can start or expand their businesses — providing valuable services and often employment opportunities in their communities, while generating income to care for their families. They can send their children to school and afford essentials like clothing, nutritious food, and medical care.
As their businesses grow and thrive, the entrepreneurs are able to repay the loan, which is then reissued to other hardworking individuals, who can use the loan for the same purpose. Microloans are repaid at a rate of 97 percent — which means they have the potential to help an unlimited number of people as they’re recycled over and over again.
World Vision is committed to the empowerment of women — and funding a microloan is one of the best ways to do just that.
Read more about World Vision Micro, our microfinance program.
Two ways you can help
Please pray for Mariam, that the loan she receives will help her care for her family and bring positive change to her community. Pray, too, that many other women like her would be reached with microloans that they can use to help lift themselves and their communities out of poverty.