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.
Paul is from Kenya. He has 4 children. He needs a loan of $350 to purchase fertilizer and pesticide.
Paul is 39 years old and runs a small business growing corn and beans. He lives in World Vision's Bandaptai region in Kenya. Paul has grown corn and beans in this area for more than 5 years. He also has more than 3 employees who help him run his farm.
Paul has requested a loan from World Vision to expand his business. He would like to purchase fertilizer and pesticide. This will help Paul grow and sell more corn and beans which will increase his overall income.
Paul and his wife have 4 children, and all of them are currently studying in school.
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.
Brian is from Kenya. He has 1 child. He needs a loan of $200 to buy more milk.
For the last 5 years Brian has operated his small business in the Kabarnet region in Kenya. He sells milk to customers in his community.
Brian has asked for a loan from World Vision to expand his business. He would like to buy more milk for resale.
Brian 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.
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.
Martin is from Kenya. He has 4 children. He needs a loan of $350 to purchase welding machines and materials.
For more than 5 years Martin and his wife have operated his small business in the Bandaptai region in Kenya. He provides a welding service to customers in his community.
Martin has asked for a loan from World Vision to expand his business. He would like to purchase welding machines and materials. This will help him to increase his overall income. Martin will use these profits to support his family.
Martin is 39 years old and the father of 4 children, and all of them are currently studying in school.
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.