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Microfinance 101: investing in economic development
Microfinance is the practice of providing financial services to people in impoverished countries who have no collateral, credit history, or access to traditional lending services. Micro gives you the opportunity to fund small loans - also called microcredit, microlending, or microloans - through local microfinance institutions to borrowers who possess minimal collateral for a traditional loan. Microfinance began in the 1970s with loans for women to start small businesses.
World Vision Micro and microfinance loans
Micro lets you make microfinance peer-to-peer loans, giving you a unique connection to one entrepreneur in a developing country.
- Microfinance loans can range from $25 to $5,000
- Average microfinance loan cycle: 3 to 12 months
- Repayment rate of microfinance loans: 98.7%
Microfinance alleviates global poverty
Through microfinance you can support small-scale entrepreneurship, providing financial services to impoverished women and men and empowering them to work their own way out of poverty. Microfinance has proven to be an effective economic development strategy.
Featured Entrepreneur
Albertine Uwamahoro
- Mucaca, Rwanda
- Business:
- Food
- Loan Size:
- $875
Albertine has a shop where she sells various foods and goods, including: oil...
Learn more
Success Stories
Chheang's Story Chheang Leang used her loans to expand rice production, buy livestock, and sell ice cream - efforts that have kept her children well-fed and in school. Learn More
The Challenge
- One in five people worldwide survive on less than $1.25 a day
- Only 3% of the need for microfinance is being met
The Solution:
World Vision
Micro
Small loans by themselves are not enough to end global poverty. But when these small loans are interwoven with other poverty-fighting efforts like clean water, health, and education, the result is a world-class approach to community development.
