This loan is part of Microloan Malawi's efforts to provide very poor women, mostly below the poverty line of $1.25 per day, startup capital for small businesses. The organization uses a data system to target women that qualify for this program, and provide loans beginning as low as $20 per borrower depending on the proposed economic activity. Extensive training on business and financial skills, as well as marketing and group dynamics, is also provided given that these women are often first time borrowers in the formal financial market.
About MicroLoan Foundation (MLF) Malawi:
MicroLoan Foundation Malawi is a non-profit organization that provides impoverished women living in the rural areas of Malawi with agricultural, solar, and business starter loans.
The organization targets underserved women and is dedicated to poverty alleviation. Loans issued through Kiva will allow MLF-Malawi to diversify funding sources, maintain socially impactful programs like skills trainings, and offer loans with lower interest rates.
Please note that if a lender makes a loan to a group containing a borrower that drops out, the lender will receive the full loan amount for that borrower back as a repayment near the start of the loan.
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