Give a man a fish, he’ll eat for a day. Give a woman microcredit, she, her husband, her children and her extended family will eat for a lifetime.
― BonoLife is especially unfair to the low income households of small time vendors like street hawkers, rickshaw-pullers, etc. Inadvertent hardships like health ailments and natural disasters can set them back even further. Typically, they are ineligible to receive loans from banks and often have to rely on local money lenders that charge them exorbitant interest rates.
Our work in Micro-finance:
- Encourage entrepreneurs and those running micro-enterprises (street hawkers, basket weavers, etc.) to use these loans to expand their business.
- Raise funds to disburse micro-financing loans in partnership with other organizations.
- Identify deserving individuals, disburse funds and provide appropriate oversight over the accounts and repayment.