Celebrating 5 Years of Mkono - 0% Interest Loans!

by MKONO MICROFINANCE
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!
Celebrating 5 Years of Mkono - 0% Interest Loans!

Summary

With as little as $100, we can provide an entrepreneur with a loan that has the potential to be redeployed up to 10 times. It's a small investment that can have a big impact on their business. By generously donating to Mkono, you can help us offer affordable loans and mentorship that can accelerate the growth of our entrepreneurs' businesses. Every donation, regardless of its size, plays a significant role in advancing our entrepreneurs endeavors.

$11,000
total goal
$2,940
remaining
50
donors
0
monthly donors
23
days

Challenge

Kenyan Small and Medium Enterprise (SME) owners are confronted with a pressing issue: they have inadequate financing options to expand their businesses. The issue is complex, with traditional micro-lending institutions targeting individuals with high-interest loans, and commercial banks unwilling to provide loans without collateral. Sadly, this leaves SME owners caught in the middle, too large for micro-lending platforms and too small for commercial banks.

Solution

Mkono believes in a holistic method of empowering entrepreneurs, which involves pairing cost-effective loans with mentorship from young professionals worldwide. The entrepreneurs are equipped with knowledge on finance, marketing, and business development, enabling them to advance their businesses sustainably. When entrepreneurs repay their loans, Mkono reinvests the funds by issuing new loans to other high-potential business owners, generating a multiplier effect ($1 donated = $10 in loans).

Long-Term Impact

These loans will help entrepreneurs sustainably grow their businesses, create jobs, and generate wealth for their communities to become self-sufficient. By supporting local entrepreneurs, you help communities reduce their dependency on foreign support. Your donation to the business loans help families to put their children through school and support their livelihoods. Mkono means "hand" in Swahili. Let's give a hand to young entrepreneurs in low-income countries. Together.

Additional Documentation

This project has provided additional documentation in a PDF file (projdoc.pdf).

Resources

Organization Information

MKONO MICROFINANCE

Location: Montreal, QC - Canada
Website:
Facebook: Facebook Page
Project Leader:
Jamie Denham
Montreal , QC Canada

Learn more about GlobalGiving

Teenage Science Students
Vetting +
Due Diligence

Snorkeler
Our
Impact

Woman Holding a Gift Card
Give
Gift Cards

Young Girl with a Bicycle
GlobalGiving
Guarantee

Get incredible stories, promotions, and matching offers in your inbox

WARNING: Javascript is currently disabled or is not available in your browser. GlobalGiving makes extensive use of Javascript and will not function properly with Javascript disabled. Please enable Javascript and refresh this page.