$2,920.00 has been kindly donated
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category so far. WOW!

Business Loans

Business Loans

BUSINESS LOAN REPAYMENT SUCCESS RATE IS 95-98%. BUSINESS LOAN REPAYMENTS ARE RECYCLED AROUND 2.5 TIMES PER YEAR. YOUR GIVING KEEPS GROWING !

Receiving small business loans helps borrowers who typically lack collateral, steady employment and a verifiable credit history.  Business loans are designed to support entrepreneurship and alleviate poverty.  These loans also, in many cases, empower women and enlarge entire communities.

Acquiring stable employment histories for women in many communities lacks what traditional lenders tend to require.  Many are illiterate and, therefore, are unable to complete the paperwork to get conventional business loans.  As of 2009, an estimated 74 million men and woman held micro loans that totaled U.S. $38 billion.  The Grameen Bank reports that the repayment success rates are between 95 and 98 per cent.

Initially benefiting from micro loans was the principle of lending to individuals.  Today lending to women has also become an important principle.  Women presently make up 75% of micro loan recipients worldwide.  These women have higher repayment rates.  Also, women tend to accept smaller business loans than men.  Micro loans are just one factor influencing the success of a small business.  This achievement is, to a much larger extent, based on how much an economy or a particular market grows.

Supporting women is My Wow Factor Charity’s aim.  Through the partnership with a non-profit micro loan foundation, we can achieve this.   Small loans, with ongoing business training, support women in working their way out of poverty.  These women are establishing self-sustainable businesses that can make a profit.  Our tried and tested microloan model works as a hand up not a handout.  Your giving to the projects below provides work to some of the poorest women in rural sub-Saharan Africa.  Micro loan officers are local staff in Malawi who visit isolated rural villages by motorbike.  They meet with those interested in receiving business loans and form training groups of between 12-20 members.  These women train before receiving their first loan.  Training covers subjects such as working together, managing your money, and understanding your rights and responsibilities.  The loan officers use role playing and games to make the training accessible to women with no formal education.   The trained group members open a bank account and develop a savings plan.  The microloan officers disburse the loans which have an average starting value of $45.00.

The businesses involved include market stalls, bakeries, and second-hand clothing shops.  Fortnightly training continues to ensure the success of the businesses, with topics including market research, pricing and profits, and business planning.  During their training meetings, the women make loan repayments using their sales revenue.  The repayments are recycled to make more loans.  These businesswomen invest their profits in family needs such as food, medicine, clothing and education.  Many of them make small, regular savings deposits toward a sustainable future.

Source: Micro Loan Foundation

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Empowering impoverished women through a small business loan gives them the opportunity to make a positive contribution to their sustainable future.   Your gift encourages women to adopt an independent…

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Giving to Project Poverty means you are giving a micro loan to some of the poorest in Malawi.  Women in Malawi need a hand up to work their way out of…

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Supporting fortnightly business training for micro loan recipients ensures business success.  During these meetings, profits are loan repayments, then recycled to make more loans.  Success rates of repayments are between 95…

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Helping Project Women’s Business will change a family’s future.  Giving micro loans to women will provide an income to help their children be able to eat nutritious meals, educate them, and…

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