When a gift is given the money can make an immediate impact. However, the impact ends when the dollars run out. With microfinance, training is provided and a loan is given to equip an individual to build their own sustainable business for consistent income removing the need for monetary one-time gifts. Think of it as a new way of charitable giving… a long-lasting solution!
After an individual uses a loan and builds a sustainable business, the loan is repaid in full and the original loan can be given to another individual who is eager to complete training and lift themselves out of extreme poverty by way of a business start-up.
When an entire community has access to training and credit opportunities, families no longer are homeless, children are able to attend school and the future of families is forever changed.
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MPA partners with grassroots organizations to help them expand their microfinancing efforts. Although our partners have different approaches to offering people a hand up, they have many elements in common. We have come to see these shared elements as best practices, or “Microfinancing the MPA Way.” They are:
to lift themselves out of poverty with dignity and respect.