Renee’s family comes from Eastern Samar, which is one of the poorest provinces in the Philippines. Thirty percent of the population live below the national poverty line. This is because the province is constantly bombarded by the frequent typhoons originating from the Pacific Ocean.
Renee started this project using her own savings to develop contacts and international interest. Now that she is receiving bulk orders, she needs a capital infusion to pay for the materials, labor and processing fees for the products, so that they can be delivered on time and in good condition.
Renee is borrowing PHP 1,008,000 through NWTF and Kiva, so that she can sustain the momentum of her growing enterprise and provide her community of weavers with a stable source of income.
Renee's goal is to create a social enterprise environment where women are provided with the opportunity to earn a stable income for themselves and their families by maximizing the use of seagrass, which is abundant in the coastal areas of the island; also developing value chains that could energize the economy of the communities she is working with.
More information about this loan
On Friday November 8, 2013, Super Typhoon Haiyan made its way through Southeast Asia, causing substantial damage to homes and businesses in areas of the Philippines. Given the state of devastation following this storm, borrowers living and working in these areas may have difficulty making repayments on their loans, thus making their Kiva loans higher risk. More information >>
This loan is part of NWTF's pilot community loan program. The program is targeted at enterprises that can add significant value to poor communities, in terms of number of people positively impacted. NWTF offers flexible, low-interest financing for these projects that caters to the needs of each enterprise.
About Negros Women for Tomorrow FoundationNegros Women for Tomorrow Foundation, Inc. (NWTF) is a non-governmental organization established with an aim to help women achieve self-sufficiency, particularly in the province of Negros Occidental’s low-income communities. The organization offers its clients a wide variety of products, including loans for micro-entrepreneurs, hospital income benefits, life insurance, accidental death benefits and more. Kiva lenders’ funds will be used to expand the reach of these products to women in low-income urban and rural communities.
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