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.
Neth is from Cambodia. She has 3 children. She needs a loan of $250 to buy fertilizer, pesticide, and fishing equipment.
For more than 5 years Neth has operated her small business in the Kampong Leng region in Cambodia. She grows beans and sesame to sell to customers in her community.
Neth also has a second business where she catches and sells fish. This second business provides a supplemental income which Neth needs to support her family.
Neth has asked for a loan from World Vision to expand her business. She would like to buy fertilizer, pesticide, and fishing equipment to support her family.
Neth is 33 years old and the mother of 3 children, of whom 3 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.
Teresa is from Philippines. She has 2 children. She needs a loan of $250 to buy more frozen foods for resale.
For the last 5 years Teresa has operated her small business in the Haven of Rest I region in Philippines. She sells frozen foods like ham, sausages, and hot dogs to customers in her community.
Teresa has asked for a loan from World Vision to expand her business. She would like to buy more frozen foods to sell to support her family.
Teresa is 51 years old and the mother of 2 children, both of whom are currently studying in school.
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.
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.