Since our initial donor group of 49 partnered with Global Giving in April, 2011, generous donors have contributed over $5,000 to The Village Net’s African programs. This is a significant part of the funding required for initial microloans or increasing loans to over 150 women business owners. Specifically, $1,000 to one village allowedthe loan program to accept 20 new borrowers, and the additional interest raised from those loans moved 3 current borrowers to the Entrepreneur Club level. This level includes women who receive advanced business training and are qualified to receive loans of up to $500.
Our borrowers typically support their families on less than $2 per day, and a starting loan of $50 has an immediate positive impact on their ability to provide for basic needs. Women typically start putting more food on their tables, or serving more meals in a day. They can afford uniforms and school supplies needed to send more children to school, and they can barter for better market prices for their products with the additional cash, increasing their profit margins.
A particular indicator of progress in Kenya has been that women save over time to repair their homes or build new ones. Pelete Parkire has taken 5 loans from TVN. Through these 5 loan cycles, she was able toprocure the materials to build a new home. She has now relocated her family from their manyatta house (made of cow dung) to her newly built and furnished dream home. Pelete's before and after photos are below.
Sawoina Meyoki works as a charcoal vendor, a physically challenging job, in order to support her family. When Sawoina took out her second loan from TVN, she became so ill that TVN was worried about her recovery and ability to repay her loan. The team was considering writing off the loan. Happily, Sawoina did recover and worked out a repayment plan with TVN that allowed her to continue her business. When she moved to her 3rd loan level, she began assembling the materials she needed to build a semi-permanent house. She and her family now live in that new furnished home.
Our Global Giving donors have made a direct impact on the lives of women in our villages. Your support hasenabled them to improve the standard of living for their families in so many ways, and allowed them to not only continue working in their businesses, but to grow their businesses. You have helped build a foundation from which the women can continue to pull themselves and their families out of poverty, and you have given them the ability to achieve more for themselves than was ever anticipated. We are all so grateful for your concern and support!
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