A loan of $325 helped to purchase additional stocks like soap, shampoo, rice, etc.
I funded a microloan to Amalia, a general store owner in the Philippines.
Amalia’s story
Amalia is a 48-year-old, married mother of five children that works hard to provide for her family. She runs a general store in the Philippines and requested a PHP 14,000 loan through NWTF to purchase additional stock like soap, shampoo, rice, etc. to sell.
Amalia has borrowed and paid back 14 loans from NWTF before requesting this loan and has been running her general store for 15 years where she earns an income from rice retailing.
She aspires to save enough money so she can afford to send her children to college. If she can send her children to college, she can dramatically expand the possibilities for their future. This goal keeps Amalia very motivated.
Microloans help entrepreneurs like Amalia in the Philippines because the average annual income in the nation is only $7,000. This means that even just a few hundred dollars can go a long way towards being able to purchase supplies for businesses or to pay other business expenses
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.
After partnering with the NWTF, Amalia was able to successfully receive her microloan! Now she can purchase all of the supplies she needs to keep operating her general store efficiently. This is excellent news for Amalia, her family and everyone who shops at her store. Hopefully, it will bring Amalia one step closer to her goal of being able to send her children to college.
If you are interested in providing a microloan to an entrepreneur in need, please visit kiva.org today.
Seasoned entrepreneur, startup expert, and investor Dr. Joe Johnson has helped fund over 1,000 microloans per month through the private, nonprofit foundation of his firm, GoodField Investments. Read more how these microloans have changed lives for the better here.
(This microloan is based on https://www.kiva.org/lend/835388.)
Joe Johnson, PhD 