What is Microfinance? Microfinance is the provision of financial services—small loans, savings, insurance—and business training to very low-income individuals, particularly women, to help them start and grow income-generating businesses. It is an effective strategy in the fight against poverty and critical in providing economic opportunity to those in need. Unfortunately, banks view these entrepreneurs as too risky for investment. That’s where MicroDreams, and you, can help.
What is a Microfinance Institution (MFI)? A microfinance institution is a group that provides a range of basic financial services that are tailored especially to the needs of poor people—especially those living in 3rd world countries. For example, an MFI can provide its clients access to basic savings accounts that have no minimum balance requirements or that have no recurring monthly fees. In this way, an MFI provides the range of financial services that otherwise are completely unavailable to poor families living in 3rd world countries. These financial services can help poor families get a rung on the economic ladder and work their way up and permanently out of poverty.
What is a Microloan? A microloan is a very small loan. It's typically given to a person living in a 3rd world country. The loan size might be as small as $200 or perhaps as large as about $4,000. It's not a gift, it's not a handout, it's not a grant. It is meant to be repaid. Microloans typically require 0 collateral and no need for proof of employment. This makes capital accessible for those who would normally not qualify. Microloans typically help very poor people living in a third world environment start and grow some sort of income generating business, improve their homes, or educate their children . In a nutshell, a microloan is all about providing meaningful economic opportunity so that people living in 3rd world countries can have hopes and dreams and follow them for a better tomorrow.
What is the Impact of My Donation?
All donations, no matter the size, are welcome. Your donations get pooled with others to make a real impact. For example:
$100 Covers the education of four children for one year
$400 Finances one new business and changes the life of a family
$1,500 Pays for the expansion of a small workshop
$7,500 Helps to economically transform a small village
Who Do You Help?
MicroDreams partners with the South Pacific Business Development (SPBD) microfinance network operating in Samoa, Tonga, Fiji, Vanuatu, and the Solomon Islands.
What is MicroDreams Relationship with SPBD?
We are a non profit and sister organization to SPBD. Your donations help fund dreams for women in the South Pacific. In the graphic below, you can see how MicroDreams accelerates SPBD’s ability to make an impact.
Do You Work with Family Offices, Corporations, and Other Large Donors?
Absolutely, please fill out the contact form and Polly will reach out to you.
How Can I Get Involved?
Aside from donating, there are many ways to get involved with MicroDreams. The easiest is to follow and like / share our posts on social media. Additionally, you sign up for our newsletter, host a birthday fundraiser on Facebook, or register for our events.