By: Cassidy Ostmeyer || 2/4/17
On a mission to make a larger impact on this world, Women In Business began a new initiative this past semester of funding loans to women in impoverished countries through Kiva, a micro lending organization. Borrowers post their stories on Kiva, and lenders then come together to crowdfund their loans in $25 increments. Over the course of a year, borrowers pay back the money that was lent to them. Kiva is an international nonprofit that works to empower people around the world by creating opportunity for many through microloans.
Over the course of two months, Women In Business contributed to three loans to women around the world. Here are their stories:
Merlita from Montalban, Rizal, Phillipines
Merlita sells premium and unleaded gasoline as well as peanut butter and coco jam. She used her loan to buy containers for gasoline, peanut butter, and coco jam. She uses her business profits to fund her youngest son’s college education.
Hoán from Quang Thai, Vietnam
Hoán has sold general goods and dry food in her village for more than 10 years. While the retail business is good income, her hometown frequently suffers from natural disasters which makes that income inconsistent. Hoán used her loan to send her children to school, as well as provide them with books, school supplies, and an electric bicycle.
Judith from Isabela, Negros Occidental, Philippines
Judith is an entrepreneur who runs a food-vending business to support her six children. She used her loan to further her business and buy ingredients. She hopes to save her money so that one day she can expand her business.
Kiva is an incredible organization that allows us to give back to those who truly value our help. We have continued our micro lending efforts this semester, and we look forward to continuing this initiative in the coming years. Make sure to check back in with us to see who else we donate to!