Archives For microfinance

Nicole Kinzonzi’s generosity ripples throughout her community in the Republic of Congo.

When a neighbor said she was going to a loan shark, Nicole referred her to HOPE Congo instead. When Nicole saw that another neighbor’s child had been out of school for a year, she paid the $15 needed to get the child back in school. When Nicole’s church couldn’t afford its water bill—$21 a month—she made the payments. Continue Reading…

If given the opportunity, 50% of Moldovans would leave their country to work abroad.

And many have left. Moldova’s emigration rate is the eleventh highest worldwide. Since the 1990s, a shortage of stable jobs has led thousands to move abroad in search of work, and this trend continues today: Between 2000 and 2014, the number of people who traveled abroad to find work grew from 138,000 to 341,900—a 147% increase.

To keep Moldovan workers close to home, stable jobs are critical. And for a developing economy like Moldova’s, small-and-medium-enterprises (SMEs) fill this employment gap, with 63% of employable Moldovans working for an SME. As these businesses grow, the economy adds more local jobs—and fewer people must leave their families and communities.

Yet, credit barriers prevent many small businesses with the potential to provide much-needed jobs from expanding their businesses further. That’s why Invest Credit, HOPE’s microfinance partner in Moldova, equips entrepreneurs with larger loans to help them scale their operations and reach their potential. As these two stories demonstrate, entrepreneurs like Petrov and Sergiu are tackling the challenges of poverty in their communities. Continue Reading…

Though Ana Cipriano de Sevedia’s education was cut short at the age of 15 because there were no local high schools in her rural Paraguayan community, her love of learning remained. And she’s working hard to create a different outcome for her three sons. “My dream is that they study [at university], that they become someone in life,” she shares. “I work so hard [for this].” Continue Reading…

Tuning her radio each morning to the local Christian station, Yissel Mateo Vasquez places her stereo on the porch so neighbors have the opportunity to hear the Word of God on their way to work. This is just one way she is sharing the Good News in her community in the Dominican Republic. Continue Reading…

Mauvalyn Bowen - Wedding

A passion for entrepreneurship can be kindled in a number of different ways.

For some, it’s the classic childhood lemonade stand that initially piques interest; others point to a formative internship or mentor; and for others, it’s building upon an earlier innovation. For Mauvalyn Bowen, a member of HOPE’s local board in Minnesota, it was riding on the back of a donkey as she and her mother (pictured above, along with Mauvlyn’s father and husband) made their weekly trek to market. Continue Reading…

Many small businesses in middle-income countries have outgrown typical microfinance loan sizes but still do not qualify for commercial lending. Stuck in the “missing middle,” these companies have great potential to provide jobs and contribute to the local economy, yet credit barriers stand in their way. Continue Reading…