Grameen Foundation : Get involved : Gift Catalog : Launch a microbusiness
$98 - Launch a microbusiness
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| A borrower's profits provide for a better future for her children. |
Merlyn Francisco was always an industrious woman, becoming a successful fish vendor early in her marriage, but it wasn’t until her husband was diagnosed with cancer that she faced severe financial difficulties. He needed chemotherapy and after a prolonged battle with his disease, he passed away, leaving her with a pile of medical bills and no health insurance. Suddenly alone and believing there was no way out of her financial disaster, Merlyn was pushed into bankruptcy and fell into a deep depression for two years.
However, her determined nature prevailed, and after hearing about microfinance and a local microfinance institution called CARD, she eventually was able to take out a loan of PhP 5,000 (US $98). She contacted her old buyers and exporters and started a new paper maché business. She now has a reputation as a reliable, trustworthy vendor. She has hired several staff members, and enjoys a position of respect within her community. Microfinance allowed Merlyn’s indestructible spirit to reach new heights, giving her a hope that she thought was lost.
Grameen Foundation : Get involved : Gift Catalog : Launch a microbusiness
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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