MicroLoan works primarily with women because they are proven to be more reliable borrowers, and evidence also shows that women will spend their income on their family.
The Harvard Business Review states that women reinvest 90% of every dollar earned into their families’ education, health and nutrition.
Giving their children access to education is a priority for many of MicroLoan’s clients. 92% of our clients in Malawi report that they are able to send their children to school thanks to the income they generate from their businesses.
This Christmas you can help a woman begin her journey out of poverty by making a donation to our double up campaign.
Your impact will be doubled. Every donation received in response to this article will be matched by The Language Factory.
Life as a single mother
Anna hopes to do the same thing for her family. At only 24, Anna has five people financially dependent on her. Her husband left her a few years ago and she became the sole parent to their two young children. In addition to juggling life as a single mother, Anna also cares for her ill mother and two teenage siblings.
Her siblings, Jason and Rose are currently enrolled in a local school, but Anna doesn’t know how long she can afford to keep them education. She wants all four children to complete their schooling but as the only income provider in the family she isn’t earning enough to cover all the upcoming costs.
In order to find a way to meet her family’s needs Anna joined a MicroLoan group in Malawi. She used to sell dried fish in her local village and made around £20 a month. With this income she was often forced to decide which of the children were able to eat and when they could attend school as she often needed the help at home.
“Every morning Jason gets up at 6am with me and helps with some of the household chores before going to school. I can’t always afford to buy food so he doesn’t always have breakfast. He used to eat porridge at school but they no longer have funds to provide meals for the children.”
A family’s transformation
However, her family’s life is starting to change thanks to the loans and business training she has received from MicroLoan. Anna has now opened up a tea room in her village.
This has attracted people in her community and she has a growing customer base. With her increased income Anna has been able to purchase a bicycle. Prior to owning a bicycle, Anna would have to walk on foot to buy products from local traders and was limited by what she could carry. She can now travel further distances in a shorter amount of time to purchase scones and other baked goods. Thanks to the basket she attached to her bicycle she can transport more produce keeping her tea room well stocked.
As her business continues to grow Anna is more hopeful for her and her family’s future. She has been able buy food, clothes and writing materials for the children. She is confident that all four of them will be able to attend and complete school.
“MicroLoan is doing great things for the women in my village and I hope their support can reach even more women. MicroLoan’s work is important because it teaches us how to save and plan for our futures.”
This festive season you can help MicroLoan reach even more family’s like Anna’s.
Don’t forget that this Christmas your donation will go twice as far. The Language Factory will double all donations received in response to this article up to the value of £20,000. Click the button below and when asked ‘How did you hear about MicroLoan?’ please answer ‘Anna– Language Factory’.