Micro finance is a boon to many poor people who have been born into poverty. They do not have to endure poverty for eternity. With the help of non-profit organizations and experts, people from under the poverty line have the ability to improve their economic status. Micro finance comes in the form of small loans to help them progress in the occupation they choose for earning their bread. Developing nations have benefitted from micro finance and this is the reason why it is growing in popularity in the world today.
Helping poor people to become financially independent
The Joe Johnson Mercy Foundation helps people to become self- sufficient financially. A non-profit organization provides micro finance loans to people below the poverty line. These are small loans however they help people to a great extent to get the financial upliftment they need in their lives. If you look at loans today, poor people will not get loans from banks as they do not have assets. Micro finance is based on the philosophy that small sums of credit has the ability to end the cycle of poverty.
This Foundation is located in Tampa, Florida in the USA. The professionals are trained and compassionate in helping their poor brothers and sisters lead a better life with care and financial help. The experts educate and help people understand how these small sums of credit can benefit them and transform their lives.
In some nations, it has been found that micro finance loans are preferably given to women as they are most likely not to default like males. This also gives them empowerment and this also works as a safe investment for those who are funding these loans.
There has been evidence that families that receive micro finance are less likely to pull their children out of school to earn a living. They allow their children to study and this helps them in a large manner to dream of a better and brighter future.
In a developing nation, even a small loan can help generate a long lasting sustainable business for poor people. The benefactor is able to pull his or her family out of the poverty cycle. Moreover, a small business will help in the creation of new jobs that is beneficial to the economy as well. If you look at the world today, you will find that almost half the world is poor and micro finance is a feasible solution for these families.
The professionals here at Joe Johnson Mercy Foundation ensure that poor families across the globe enjoy the benefits of micro finance and this is the reason why they create awareness on the above. The Foundation does not depend upon donations for funds. They are self-sufficient and at the same time make an earnest endeavor to help their underprivileged counterparts to rise over the poverty line and pave the way to a better future. The experts guide and help them all the way- this is why they are famous and popular in the USA today!