Businesses Run by Women with the help of Micro Loans from POL
In order to help a sick child recover completely it is important to supplement the medicines with food and nutrition. Unfortunately, the AIDS epidemic has destroyed the fabric of the African community and most of the households are headed by grandmothers caring for 5 or more orphans.These grandmothers do not have a permanent source of income and struggle against odds to provide regular food or support to the family.
We realized early in our work that if we were to succeed in making a real difference in the lives of all the HIV+ children we had to make sure the grandmothers had a regular source of income.
Microfinance is a program by which poor people are given small loans without collateral. This has been implemented successfully in many countries. Through microfinance poor women get loans to start a business and over time as the business grows, they repay their loans. Worldwide the repayment rates for micro credit vastly exceed that of traditional banking.