Twice a month, Rose Anite, a 26 year old Sudanese woman, buys fish from a location near the Nile River in Uganda. Rose then sells the fish at the open market in the Sudanese city of Yea. However, due to poor roads and a crumbling infrastructure, Rose’s trips to Uganda last a long and wearisome seven days. In order to improve her business and her quality of life, Rose joined SUMI, the Sudan Microfinance Institution. From SUMI, Rose took out a loan equivalent to $100-a large sum considering Rose started her business with the mere equivalent of $75. With the money from her loan, Rose is able to buy fish in larger quantities – allowing her to make more from each trip. Even this small increase in profits has made a significant difference to her quality of life.The extension of small loans or microloans to the poor, such as Rose, who do not have access to traditional financial services due to lack of collateral, employment, and credit history is known as microlending, or microcredit. Microlending is a division of microfinance-the provision of financial services to those living in extreme poverty-and is a booming phenomenon that shows great promise in alleviating… Read full this story
- Meet the NY couple making it work in a 240-square-foot studio (and they pay $1500 a month for the pleasure)
- 'I don't know what the hell is going on. This woman needs to make this work for my future wife': Prince Harry's strong words to the QUEEN about her key aide during row over Meghan Markle's wedding tiara
- Joe Swash warns fans I’m A Celeb will be a ‘different show’ in Wales – but insists producers will ‘make it work’
- 'It really does improve your fitness and makes you work up a sweat': Our verdict on Nintendo Switch Game Ring Fit Adventure (and it's now back in stock on Amazon)
- Six must-have products for a smooth Work-from-Home this monsoon season
- Why working from home is so disruptive to your sleep schedule
- Meghan Markle and Prince Harry will return to the UK to continue their charity work once lockdown travel restrictions ease, Finding Freedom author claims
- The US-China fight began with trade. Now it's the one thing still working for them
- Women are drowning in unpaid labor at home. Stop making them do it at work
- 11 Best Work Backpacks For Women: From Fjallraven Kanken to Herschel and Rains, commute in style with these bags
Making Microlending Work have 400 words, post on ezinearticles.com at June 9, 2009. This is cached page on The World Articles. If you want remove this page, please contact us.