Increase SOS Fund to Save Expiring Microloans

The SOS Loan Fund has now lent over $55,000, and your donation has helped make this happen.  The thing about lending on our platform is that your donation goes to motivated small business owners who decide how best to improve their lives with a small loan.  The expanded business helps the business owners have better housing, eat better, have access to medical care and even educate their children!

While many loans are to individuals, our platform also helps groups of people.  In some countries there is a custom of pooling money and taking turns using it to build a business.  However, sometimes pooling small amounts of money that the individuals might have available isn't much to work with.  With a loan from outside the low income area, there is a real chance to build a stronger business and help move out of poverty.  Senegal is one country with a history of pooling money and taking turns using it.  Here is one story of a borrower group:

This group was created and inaugurated in July 2012. The group members have good relations. Their main business is retail.

Ms. Maimouna is thirty-seven years old. She is the group’s featured borrower. She is married and a mother of three. She works in the retail of men and women’s clothing; she also sells accessories.

With her new loan, she plans on purchase men and women’s clothes in the amount of 250,000 XOF, accessories for 100,000 XOF, handbags, and shoes for 125,000 XOF. She will also pay 25,000 XOF for return transportation to be able to retail in her own neighborhood.

Profits will allow her to grow her business and pay for her children’s school expenses. She will also help her husband manage daily expenses.

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