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.
George is from Kenya. He has 1 child. He needs a loan of $350 to purchase more sheep and goats.
For more than 5 years George has operated his small business in the Olenton region in Kenya. He raises sheep and goats to sell to customers in his community. He also has 1 employee to help him run his farm.
George has asked for a loan from World Vision to expand his business. He would like to purchase more sheep and goats to raise and sell.
George is 28 years old and the father of a child who is currently studying in school. He also cares for 2 additional dependents in his 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.
Nickson is from Kenya. He has 1 child. He needs a loan of $350 to buy more building materials to sell.
For the last 4 years Nickson has operated his small business in the Mogotio region in Kenya. He sells building materials to customers in his community.
Nickson has asked for a loan from World Vision to expand his business. He would like to buy more building materials, such as cement, timber and iron sheets to sell. This would increase his income and help to support his family.
Nickson is 30 years old and the father of 1 child.
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.
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.
Thomas is from Kenya. He needs a loan of $200 to buy spare parts and repair his motorcycle.
For more than 5 years Thomas and his wife have operated their small business in the Matete region in Kenya. Thomas provides motorcycle transport services to customers in his community.
Thomas has asked for a loan from World Vision to expand his business. He would like to buy spare parts and repair his motorcycle, which will allow him to increase his income to support his family.
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.