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.
Rath is from Cambodia. She needs a loan of $250 to buy fertilizer and pesticide.
Rath is 52 years old and runs a small business growing rice. She lives in World Vision's Leuk Daek region in Cambodia. Rath has grown rice in this area for more than 5 years. She has 2 employees who help her run her farm.
Rath also has a second business where she provides labor for a fee. This second business provides a supplemental income which Rath needs to support her family.
Rath has requested a loan from World Vision to expand her business. She would like to buy fertilizer and pesticide. This will help Rath grow and sell more rice which will increase her overall income.
She cares for 3 additional 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.
Agnes is from Ghana. She needs a loan of $250 to improve her services.
For more than 5 years Agnes has operated her small business in the Assin region in Ghana. She sells smoked fish to customers in her community.
Agnes has asked for a loan from World Vision to expand the business. She would like to improve her services and increase her overall income to support her family.
Agnes cares for 3 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.
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.
Abedneco is from Kenya. He has 3 children. He needs a loan of $400 to purchase ingredients.
Abedneco is 39 years old and runs a small business selling food. He lives in World Vision's Mashuru region in Kenya. Abedneco has sold food in this area for more than 5 years. He also has more than 3 employees who help him run his business.
Abedneco has requested a loan from World Vision to expand his business. He would like to purchase ingredients. This will help Abedneco sell more food which will increase his overall income.
Abedneco and his wife have 3 children, of whom 2 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.