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.
Lolita is from Philippines. She has 6 children. She needs a loan of $50 to buy fertilizer.
Lolita is 38 years old and runs a small business growing rice. She lives in World Vision's Bohol 04-ll region in the Philippines. Lolita has grown rice in this area for the last year.
Lolita also has a second business where she raises cows. This second business provides a supplemental income which Lolita needs to support her family.
Lolita has requested a loan from World Vision to expand her business. She would like to buy fertilizer. This will help Lolita grow and sell more rice which will increase her overall income.
Lolita and her husband have 6 children, of whom 5 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.
Josephine is from Philippines. She needs a loan of $150 to buy ingredients.
Josephine is 49 years old and runs a small business selling ice candy (popsicles) and siakoy (fried dough sprinkled with sugar). She lives in World Vision's Haven of Rest I region in the Philippines. Josephine has sold snacks in this area for more than 5 years.
Josephine has requested a loan from World Vision to expand her business. With the loan she would like to buy ingredients.
She cares for 1 dependent 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.
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.
Jesinta is from Kenya. She has 2 children. She needs a loan of $350 to buy material for making clothes.
For more than 5 years Jesinta and her husband have operated her small business in the Kiambogoko region in Kenya. She makes and sells clothes to customers in her community.
Jesinta has asked for a loan from World Vision to expand her business. She would like to buy material for making clothes. This will help increase her sales and support her family.
Jesinta is 30 years old and the mother of 2 children, both of whom 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.