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Micro Loan
Nov 04, 2019
MicroLoan Foundation provides poor women living in remote areas with free financial literacy and business training alongside small affordable loans.
Their support empowers women to develop small businesses, such as selling agricultural produce, trading fish or running a grocery store.
With their generated income and savings, the women are then able to provide for the daily needs of their families, pay for their children’s education, and increase their resilience against adversity.
In 2019 funding from the Randal Charitable Foundation supported women working with the charity’s Balaka branch in southern Malawi, by providing
the initial loans
and training
to help start-up
their businesses.
In 2021 a further grant was made towards improving the lives of 7,040 people, including 1,408 women and 5,632 children, in Kasunga District, in Malawi. The funding was used for the purpose of loans for female entrepreneurs looking to establish their own businesses so they can create a sustainable future, as well as for training sessions for all women who received loans to ensure the funds were fully utilised.
MicroLoan Foundation has developed a unique social microfinance model that supports some of the most marginalised women in remote rural areas of Malawi, Zambia and Zimbabwe.
Their support ensures hundreds of women receive free financial literacy and business training for a full year.
To find out more about MicroLoan visit here.
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