We give some of the poorest women in sub-Saharan Africa small loans and training to help them set up their own businesses.
What MicroLoan Foundation does?
The MicroLoan Foundation offers small loans, business training and support to women in rural Malawi and Zambia, enabling them to set up small businesses.
Once in profit, these women are able to provide for their families, educate their children and crucially, repay the original loan amount.
This money then gets lent to another woman and so it continues, lifting family, after family out of poverty.
Hope not handouts
They don’t give money – they lend it. 99% of loans are repaid and ‘recycled’ into new loans. This creates yet more businesses, which are able to support their owners and their families indefinitely.
They ask our supporters to Start Something positive
While most charities ask you to stop something, to stop child abuse, cruelty to animals or global warming, MicroLoan asks theirs to Start Something. And in return this doesn’t just start a shop or market stall but a powerful process of transformation.
10 years ago, Catherine was making a small living buying fish from local fishermen and selling them on at a local market. Then, with a small loan from MicroLoan, she bought a net which allowed her to fish for herself.
In time, and with the help of further loans and training, Catherine made enough money to buy a number of boats. She now has several fishermen working for her, catching the fish which she sells at the market. And it doesn't stop there.
Catherine has now saved enough money to build her own house, with space for 18 family members, some of whom she supports financially. She also pays for her grandchildren to go to school. Catherine has also started a second business, buying and selling goats, and she has plans to build a house to rent for profit.
Her own boats, a thriving fishing business, a new house, support for 18 family members, schooling for the grandchildren and further plans to grow the family income...
That’s what they mean by Starting Something.
And Catherine is not alone...
Since MicroLoan started in 2002, they have:
- Disbursed over £20 million
- Supplied more than 300,000 individual loans
- Given to 65,000 women
- Indirectly supported 335,000 children and orphans