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.
Wilson is from Kenya. He needs a loan of $300 to buy stock.
For the last 5 years Wilson has operated his small business in the Wema region in Kenya. He sells grocery items to customers in his community. He also has 1 employee to help him run his business.
Wilson has asked for a loan from World Vision to expand his business. He would like to buy inventory to sell to support his family.
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.
George is from Kenya. He needs a loan of $150 to buy milk.
For the last 4 years George has operated his small business in the Ndadbibi region in Kenya. He sells milk to customers in his community.
George has asked for a loan from World Vision to expand his business. He would like to buy milk to sell to support his family.
He cares for 2 additional dependents in his home.
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.
Kelvin is from Kenya. He needs a loan of $350 to expand his taxi business.
Kelvin is 26 years old and runs a small business providing motorbike transportation. He lives in World Vision's Bamba region in Kenya. Kelvin has provided taxi service in this area for the last 2 years.
Kelvin has requested a loan from World Vision. He would like to expand his taxi business. This will help Kelvin provide more taxi service, which will increase his 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.