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.
Sokha is from Cambodia. She has 3 children. She needs a loan of $250 to purchase fertilizer.
Sokha is 32 years old and runs a small business growing corn. She lives in World Vision's Leuk Daek region in Cambodia. Sokha has grown corn in this area for more than 5 years. She has 2 employees who help her run her farm.
Sokha has requested a loan from World Vision to expand her business. She would like purchase fertilizer. This will help Sokha grow and sell more corn which will increase her overall income.
Sokha and her husband have 3 children, who 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.
Josiah is from Kenya. He needs a loan of $350 to increase working capital.
Josiah is 24 years old and runs a small business selling milk. He lives in World Vision's Winam Urban region in Kenya. Josiah has sold milk in this area for more than 5 years.
Josiah has requested a loan from World Vision to expand his business. With the loan, he would like to increase his working capital and improve his services.
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.
Thomas is from Kenya. He needs a loan of $250 to maintain or repair equipment.
For the last 5 years Thomas and his wife have operated his small business in the Osiligi region in Kenya. He provides taxi services to customers in his community.
Thomas has asked for a loan from World Vision to expand his business. He would like to maintain or repair his equipment. This will help Thomas offer more transportation services and 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.