Men and women around the world want to get their families out of poverty. They want to provide their families with healthy food, clothing, shelter, and education. Many of these hardworking people have good business ideas – they just need a way to get started. Below are just a few examples of the different business types you can fund through Micro.
The Agriculture business sector covers all farming and livestock activities. Some entrepreneurs request loans to help in securing supplies and equipment. Others want to buy more animals to breed or purchase feed and medicines. The majority of our loan clients live in rural communities where agriculture is already understood as a business model. It is for this reason that approximately 50% of our loans are in the agricultural sector.
Ngek is from Cambodia. She needs a loan of $300 to purchase pig feed and pay for labor fees.
For the last 6 years Ngek has operated her small business in the Leuk Daek region in Cambodia. She grows rice to sell to customers in her community. She also has more than 3 employees to help her run her farm.
Ngek also has a second business where she grows piglets and cows. This second business provides a supplemental income which Ngek needs to support her family.
Ngek has asked for a loan from World Vision to expand her business. She would like to purchase pig feeds and pay for labor fees. This will allow her to earn more from her farming activities and be better able to support her family.
She cares for 4 additional dependents in her home.
Retail is a quick and scalable way to begin earning a profit. Many entrepreneurs begin with stalls at markets or even at home and need a loan to expand or increase their inventory. Others may be ready to open a small store. Goods purchased from loan funds range from clothing, grocery or sundry items to jewelry, candy, perfume or health and beauty supplies. Loans in the commerce sector account for around 33% of our loans.
Lucy Mukami is from Kenya. She has 1 child. She needs a loan of $100 to buy more stocks of clothes.
Lucy Mukami is 58 years old and runs a small business selling second hand clothing. She lives in World Vision's Kiambogoko region in Kenya. Lucy Mukami has sold second hand clothing in this area for 2 years.
Lucy Mukami has requested a loan from World Vision to expand her business. With the loan, she would like to buy more stocks of clothing.
Lucy Mukami has 1 child, who is currently studying in school.
Entrepreneurs with specialized skills can apply for a loan in the manufacturing sector. Examples of businesses in the manufacturing sector are making and selling clothes, shoes, machine parts, baskets…the list goes on. These savvy entrepreneurs see the opportunity in their community and, with the help of a loan and their unique talents, can establish their niche. Only 3% of our loans are in the manufacturing sector.
Latt is from Cambodia. She has 2 children. She needs a loan of $300 to buy livestock.
For the last 6 years Latt has operated her small business in the Preah Neit Preah region in Cambodia. She provides her labor for a fee to customers in her community. She also has 3 employees to help her run her business.
Latt also has a second business where she raises pigs. This second business provides a supplemental income which Latt needs to support her family.
Latt has asked for a loan from World Vision to expand her business. She would like to buy animals to raise and sell to support her family.
Latt is 46 years old and the mother of 2 children.
In areas where the poor live alongside the more affluent, businesses in the service sector can be very successful. Services include flower cultivation, tailoring/sewing, transportation, repair work, beauty salons and barber shops, and restaurants. Loans are needed to begin, expand, or sustain business with tools and supplies. Loans given to entrepreneurs in the service sector account for around 7% of our loans.
Rith is from Cambodia. She has 3 children. She needs a loan of $250 to buy fertilizer.
Rith is 38 years old and runs a small business as a worker. She lives in World Vision's Banan region in Cambodia. Rith has been a worker in this area for more than five years.
Rith also has a second business growing green peppers. This second business provides a supplemental income that Rith needs to support her family. Rith and her husband have three children, of whom one is currently studying in school.
Rith has requested a loan from World Vision to expand her business. She would like to buy fertilizer. This will help Rith grow and sell more, which will increase her overall income.
Every dollar donated becomes $1.28 in impact to children and communities worldwide. How?
World Vision is a Christian humanitarian organization dedicated to working with children, families, and their communities worldwide to reach their full potential by tackling the causes of poverty and injustice.