Loans to support micro businesses of 4 more low income women
By Didem Demircan - Coordinator
Thanks to our donors through Global Giving since November 2015, 4 more women in Kocaeli were able to get basic financial literacy trainings and loans to invest in their micro businesses.
Among the 4 women, G. is a high school graduate, is married and has 2 children. She has been running her own business from her small shop and needed a micro loan to have visual marketing materials produced for her business. She was provided with a loan of USD 275 that she will pay back in 24 weeks. N. is also a high school graduate, is married and has 1 child. She applied for a loan to buy women clothes to sell in her neighborhood. She received a loan of USD 275 that she will pay back in 24 weeks. S. went to school for 5 years and finished primary school. She is married and has 1 child. She wanted to borrow a loan to buy wholesale cleaning products to sell from her home. She received a loan of USD 480 and she will pay it in 36 weeks. H. is also primary school graduate, is married and has 2 children. She is a sales representative of a direct sales company and wanted to invest in her business by buying wholesale discounted products. She applied for a loan of USD 620 that she will pay back in 36 weeks. All the loan applicants first received basic financial literacy training prior to receiving their loans and they will be able to apply for a repeat loan once they fully repay their loans if they want to further expand their businesses.
Since June 2015, KEDV raised a total of USD 2.630 through 39 donations through Global Giving and disbursed loans to 6 low income women for their micro businesses and gave financial literacy training to 15 women in addition to these 6. We still have a long way to reach our target of USD 70.000 to be able to support 200 low income women entrepreneurs. We would be grateful if you could continue to spread the word and share the project link in your networks.
Nov 24, 2015
Basic financial literacy training for 15 more women
By Didem Demircan - Coordinator
Microentrepreneur women selling products at bazaar
Thanks to our donors through Global Giving since September 2015, 15 more low income women in Eskisehir were able to get basic financial literacy trainings to better manage their limited financial resources.
Among the 15 women that participated in the training, 6 of them are between ages 41-50 and the average age of the women is 46. 8 of them are primary school graduates, one of them did not go to school at all, and 4 of them are high school graduates. 7 of them are married; 8 of them have 2 children and at an average, the participants have 2 children. They all are low income micro entrepreneurs and are willing to borrow micro credit to invest in their businesses. With the basic financial literacy training, the participants were informed in budgeting, saving, borrowing, managing limited financial resources and micro credit so that they can better manage their finances at home and at business and make wise decisions while borrowing.
Since June 2015, KEDV raised a total of USD1,130 from 18 donors through Global Giving. To be able to continue fundraising through Global Giving, KEDV needs to raise another USD3,870 from 22 new donors until 31 December 2015. We would be grateful if you could help us reach this target by spreading the word and sharing the project link in your networks.
Thanks to our donors through Global Giving, 2 more women in Eskisehir were able to get basic financial literacy trainings and loans to invest in their micro businesses.
Hülya and Sabiha are two low income women who are doing micro businesses from their homes. Hülya is sewing clothes and blankets for babies and children. She applied to KEDV for a loan to improve her business and increase her profit margin by buying the materials she uses for sewing in bigger amounts from the wholeseller. She first attended the financial literacy training; she was then provided with a loan of USD300 with which she bought textile from the wholeseller. She will produce the goods and sell them through the bazaars and shops. Sabiha is knitting baby clothes from her home and selling them in her neighborhood and at some stalls. She applied for a loan from KEDV to buy materials for her production. She also attended the financial literacy training and afterwards she received a loan of USD300 with which she bought materials like wool, button etc. Hülya and Sabiha will pay back their loans in weekly installments in 24 weeks and they will be able to borrow again once they fully repay their loans.
KEDV would like to get the support of more donors so that it can reach its target of supporting 200 low income women through Global Giving. Please help us spread the word by sharing the project link...