In many parts of Africa people are living on around a dollar a day. Living at this type of poverty level makes it difficult to survive. For a small business to stay afloat, they often need some sort of financial aid. However, for people living in Africa it can be extremely difficult to secure a loan because they often lack collateral.
Microfinance can help these individuals who cannot secure a loan. Microfinance is providing loans to impoverished and disadvantaged individuals. A typical microfinance loan is less than 200 dollars. These loans are often used to purchase supplies or ingredients needed to make a finished product to sell to the customer. It turns out that millions of people worldwide are positively affected by microfinance.
Develop Africa is giving out interest-free loans with the help of your donation. They call these loans booster shots because they will help a small business expand. In addition, the NGO will provide business training to these individuals. Develop Africa’s goal is to make individuals self-sufficient. They aim to specifically help talented youth and women entrepreneurs.
Develop Africa is, in turn, helping to not only alleviate poverty but to help stop the poverty cycle. This program empowers entrepreneurs to provide for themselves in the best way they see fit. If you want to give back, visit UniversalGiving!