By Alka Subramanian | Director
Power of Love's micro loans program is committed to improving the lives of women living in resource poor communities. This program trains women in entrepreneurial skills to help them run their own small businesses, and provides multiple loans with no collateral, continuous mentoring, group meetings to help them negotiate structural barriers at home, and guidance to prevent health issues unique to women. For every woman who is supported, there is a multiplier effect in the number of children and family members whose lives change significantly.
This year, 500 women have received business training. An additional 200 women will receive training by November, bringing the total to 700 women. The women, natural entrepreneurs and rapid learners, start and run successful businesses after completion of business training. They receive ongoing support, mentoring and monitoring for the time they are enrolled (about two years) in the program. After two years, most women continue to run profitable businesses and many become mentors for new loan recipients.
One such first time entrepreneur is Bridget. In her words, “we used to wake up every day looking for jobs, like washing people’s clothes. Sometimes my children ate only once a day. It’s not easy to see your children hungry, and you have nothing to offer as a parent.” After completing business training, she received her first loan to start a business. She started selling baby clothes and plastic home goods. At this time, Bridget is doing well and is on track with repayments. She will receive a total of three loans before she graduates and her plan is to save more and expand her business. Bridget says, “my dream is to one day to wake up and find my children have completed school and are living in better communities,” This is the reason I ensure that they go to school every day. I do not want them to live like us. I am working hard so that I can manage to pay back the loan well and receive another one."
A small investment in the provision of business training and loans goes a long way in growing entrepreneurs and leaders. These new leaders strengthen their communities and never fail to inspire us. Please help us continue to increase skill levels in the community. As always, 100% of your donations go towards programs and no part is used for overheads.
Thank you for giving women an opportunity to learn business skills and run successful businesses.
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