A little help goes a long way for a small business owner in the Philippines. Entrepreneurial, these Filipinos can utilize loans for the improvement of their lives and communities.
What is the issue, problem, or challenge?
The Philippines is a country of tremendous diversity of languages, religions and cultures. 30% of its 95 million people live in dire poverty. While the country has made great strides in development, 60% of the population is still employed in the informal economy, running small businesses not recognized by the government and out a living day to day. These are the people who need microfinance, a sustainable way to eradicate poverty.
How will this project solve this problem?
Opportunity provides K-Bank and its other Philippines microfinance institutions with support ranging from market research toward more effective client segmentation to a range of product and operations improvements to help clients get ahead.
Potential Long Term Impact
For many poor families, microfinance is key for putting more food on the table and access to education. With loans, individuals use their own entrepreneurship to lift themselves out of poverty, at the same time increase employment and local economy.
Total Funding Received to Date: $1,075
This project is now in implementation and no longer available for funding. Received funds will be used to accomplish concrete objectives as indicated in the project's "Activities" section. Updates will be posted under the "Project Report" tab as they become available.
Donors' contributions and pledges to this project totaled $1,075 . The original project funding goal was $1,000.