Breaking the Cycle of Poverty - Savings and Micro-Enterprise Loan

by Helena Claire F. Arong

This is an investment you can make with a clear return. The money you donate will not only transform one life but the lives of many individuals, their families and the community.

The money will be given to a junior entrepreneur as an additional capital to help prosper their small business trade. The additional capital would mean more resources available to the junior entrepreneur and in turn generate a profitable income. In the end, the period of time to pay off the loan would be cut short. When do we start to break the cycle of poverty?

When the loan of another junior entrepreneur is paid off, this translates to a ready source of fund for another junior entrepreneur with a smart plan of small business or one with a small business all ready. Thus, the cycle begins, bringing transformation to the lives of the people. These junior entrepreneurs will also be encouraged to save so instead of asking the VFV for a new loan, they can use their own savings as an additional capital.

The VFV guarantees that your generosity will reach to those deserving individuals. A careful and thorough assessment of these viable junior entrepreneurs will be done. We will also monitor and document each junior entrepreneur's progress. A training on basic financial management and skills training, that will aid them in their small business trade, will be an added requisite.

As loans are paid back, another junior entrepreneur will benefit, creating a virtuous cycle. From your generosity, you will leave a legacy of hope and success to someone's life. It is indeed possible to break the cycle of poverty.

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Project Brief

• Name of Project : Savings and Micro-Enterprise Loan
• Target Beneficiaries : Individual with small business or smart business plan
• Budget Requirement : P5,000.00 = $98.00
• Breakdown :
  P4,250.00 - Additional Capital
  P750.00 - Training Expenses and Miscellaneous

Training Expenses include the materials used for training and Training Specialist. Trainings will be on one on one basis or depending how many recepients there will be in the same category. Categories could be on handicraft, sewing, sari-sari store or ambulant vending (food or dry goods). Miscellaneous includes fares incurred during training, canvassing and purchasing of goods. The beneficiary will do the canvassing of the needed items for the small business to be accompanied by a VFV Staff.

Upon expression of interest from the donor, VFV will e-mail the profile of the recipient. The donor will also be given details of the recipient's small business trade and the socio-economic profile. The donor will be sure to receive regular updates.