A loan of $200 helped to buy additional items to sell like toothpaste, soap, condiments, groceries, etc.

The Mercy Foundation funded a microloan to Brenda, a household items retailer in the Philippines.

Brenda's Story

Brenda is 47 years old, married, and has seven children, two of whom attend school. Brenda works very hard to provide for them.

She runs a general store in the Philippines and requested a 8,000 PHP loan through NWTF to buy additional items to sell like toothpaste, soap, condiments, groceries, etc. Brenda has been in this business for four years now.

In the future, Brenda would like to save enough money so she can afford to send her children to college.

With the extra inventory, Brenda can sell more products and make more money. Then, she can reinvest the profits back into her business. This can help set Brenda set her business up for growth.

In the Philippines, where Brenda lives and operates her business, the average annual income is only $7,000. This means that even small microloans can have a very significant impact. With a $200 microloan, Brenda can help fuel her business’ growth to the next level of success.

Microloan Partner

The field partner for this microloan is the Negros Women for Tomorrow Foundation (NWTF). The Negros Women for Tomorrow Foundation, Inc. (NWTF) is a non-governmental organization established with an aim to help men and women achieve self-sufficiency, particularly in the province of Negros Occidental’s low-income communities. The organization offers its clients a wide variety of products, including loans for micro-entrepreneurs, hospital income benefits, life insurance, accidental death benefits and more. Kiva lenders’ funds will be used to expand the reach of these products to low-income urban and rural communities.

With the help of NWTF, the Mercy Foundation has successfully funded this microloan to Brenda! Now she can purchase the supplies that she needs for her inventory. Brenda’s business will be much better off with the additional supplies. The microloan is great news for her, her family, and the members of her community who buy household items from her.

The Mercy Foundation will not receive any interest on the microloan that it provided to Brenda. Instead, it was only meant to be a humanitarian offering for an entrepreneur in need.

However, despite the fact that this microloan has now been funded, there are still many more entrepreneurs in need around the world, who desperately need access to capital. If you would like to fund a microloan to an entrepreneur in need, please feel free to visit Kiva.org today!

Mercy Foundation liquidates donated underutilized real estate assets and uses these fund the growth of small-scale businesses in developing countries like the Philippines. Know more about the organization’s quest to empower struggling entrepreneurs on this website.

Notes

1. This article is based on https://www.kiva.org/lend/837476.