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.
Victoria is from Ghana. She needs a loan of $250 to purchase fertilizer and pesticide.
For more than 5 years Victoria has operated her small business in the Nkwanta region in Ghana. She grows plantains to sell to customers in her community.
Victoria has asked for a loan from World Vision to expand her business. She would like to purchase fertilizer and pesticide to support her family.
She cares for 2 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.
Kort is from Cambodia. She has 3 children. She needs a loan of $250 to buy more fish to sell.
Kort is 40 years old and runs a small business selling fish. She lives in World Vision's Prasath Ballang II region in Cambodia. Kort has sold fish in this area for 4 years.
Kort also has a second business where she raises rice. This second business provides a supplemental income which Kort needs to support her family.
Kort has requested a loan from World Vision to expand her business. With the loan, she would like to buy more fish to sell.
Kort and her husband have 3 children, of whom 3 are currently studying in school. She also cares for 2 additional dependents in her 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.
Teresa is from Philippines. She needs a loan of $150 to buy chips, cooking oil, canned goods, eggs, shampoo, bath soap, and detergent.
For more than 5 years Teresa has operated her small business in the Haven of Rest I region in the Philippines. She makes crafts to sell to customers in her community.
Teresa has asked for a loan from World Vision to expand her business. She would like to buy chips, cooking oil, canned goods, eggs, shampoo, bath soap, and detergent to support her family.
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.
Pong is from Cambodia. She has 3 children. She needs a loan of $300 to buy grocery items to sell in his store.
For the last 3 years Pong has operated his small business in the Leuk Daek region in Cambodia. He sells grocery items to customers in his community.
Pong has asked for a loan from World Vision to expand his business. He would like to buy more grocery items to sell in his store. This will help him to better 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.