Micro finance helps improve the lives of children by improving the community that they live in. Many children find themselves growing up with a poor start in life. This can be due to extreme poverty. Microfinance can help lift families and communities out of poverty. “Microfinance is the supply of loans, savings, and other basic financial services to the poor.” These micro finance loans are small scale investments in people – we have chosen generally women supporting their children and families. These loans help them develop a business which will help them support their family.
This is currently a small pilot project being undertaken by All Star Kids.
Project Updates
We have extended the number of loans we have made this month to develop the pilot further. We hope over the coming months to increase the pilot to 50 micro loans.
We are now looking at setting up our own micro finance scheme directly in Zambia. We are currently researching how we will be able to manage this effectively.
SHARETHIS.addEntry({ title: "Micro Finance Update", url: "http://www.allstarkids.org.uk/?p=369" });
Share and Enjoy:
Read More →
We are pleased to announce that we have added a few more loans to our Micro Loans pilot. We are really pleased to report the success of the pilot so far. We have had a couple of loans repaid which is great – this has enabled us to re loan that money to others.
Our most recent loan was made to Mary. She is married, has three children and is a graduate of the local junior high school. For the last 10 years, she has worked as a trader, selling maize at a heavily-trafficked area known as Shama Junction. She uses her income to help pay for her family’s expenses, mostly school fees. She has applied...
There are some small things that make people smile. Making a small loan of just $25 to keep a woman in Ghana out of poverty is one of them. The success rate of our loans this financial year has been staggering. Each loan we have made is in the process of being paid back. Not a single loan has defaulted. This has enabled us to reinvest that money into other people.
This is the information about one of the loans we have made:
“Akua Dodokweh is 60 years old. She is widowed and has four children, two boys and two girls. She lives with one of her children in a family house in a small farming...
We have today made the 12th loan in our Micro Finance Pilot. We were able to make this loan of $25 because some of our other borrowers have started to repay their money – together with a small donation by Developing Networks.
This loan has been made to Monica Silvestre Januario, she was born in the central province of Zambezia. She is 30 years old, single, and the mother of a seven-year-old child. Monica went to school until the 10th grade, and then stopped due to lack of finances. Monica left her city after she graduated as an elementary school teacher and was contracted to work in Maputo....
Make a Loan Change a Life
We are piloting small Micro Finance Loans as a new project for All Star Kids.
What is a Micro Finance Loan? “Microfinance is the supply of loans, savings, and other basic financial services to the poor.”
What difference could it make? “Microfinance helps very poor households meet basic needs and protect against risks, By supporting women’s economic participation, microfinance helps to empower women, thus promoting gender-equity and improving household well-being”
Why? We believe at All Star Kids that helping communities to support...
