Why Support Microfinance?
"Once the poor can unleash their energy and
creativity, poverty will disappear very quickly"
-Muhammad Yunus, microfinance pioneer and recipient of the
2006 Nobel Peace Prize
For decades, charity and government aid have been the primary methods to help those at the lower end of the economic scale. Microfinance, a proven business model, relies on a different approach: enterprise.
Loans as small as $100 are often enough to start successful family businesses in the developing world. Even the poorest of the poor have demonstrated a great ability to build viable enterprises which can feed their families and build a better quality of life.
Worldwide, the repayment rate for microloans ranges between 97 and 99%. Microfinance institutions, which function like banks for the poor, are therefore thriving and looking for international capital to increase their available funds for the poor.
Yet despite its success, this rapidly growing movement still lacks the capital to meet the needs of hard-working families trying to pull themselves out of poverty. The demand is so overwhelming that many deserving people seeking loans are turned away.
Your support allows more people to have access to the opportunities for health, education, and food that microfinance makes possible for families worldwide.