This week, I found out a lot about micro
financing. I really didn't know what it was before, but once I read about it, I
learned how amazing it really is. Micro financing allows women to become the
providers for their families, which gives them more worth and makes them less
disposable. Saima is a prime example of this. She was poor, beaten by her
husband, and undervalued for what she contributed to the family. Her mother in law
even thought that her son should take on a second wife to give him a son, since
Saima hadn't done it yet. But thanks to micro financing, Saima now brings the
sole income to the home. Her mother in law wouldn't dare even think about
suggesting a second wife now. I think that this is amazing. Many of these women
are capable of so much more than they are given credit for, and if they had a
little bit of opportunity and funding, they could take their ideas so far.
This is
why I think that the KIVA project is such a good idea. All it takes is a little
bit of funding to empower these women to be able to make a name for themselves.
I plan on giving some money to this organization, because it makes me feel more
than other organizations that I have seen. Just like the Half the Sky book,
individual stories impact me more than just statistics. Reading the stories on
their website really makes me want to help lend to them and see what an impact
I can make.
I also never heard of micro financing before. I think this is such a great idea because as a single mom I know how hard it is to afford children. I can only imagin how people are when they do not have family to go to for money, I am lucky enough to have my parents helping me. These programs are so important to help people from different countries that cannot afford to cRe for their children.
ReplyDeleteI also never heard of micro financing before. I think this is such a great idea because as a single mom I know how hard it is to afford children. I can only imagin how people are when they do not have family to go to for money, I am lucky enough to have my parents helping me. These programs are so important to help people from different countries that cannot afford to cRe for their children.
ReplyDeleteKIVA is an amazing organization that has an effect worldwide. There is actually an event here in Downtown Flint to support KIVA this month, on the 19th. People do not often realize the impact that start up funds, no matter how small, can have for a family or a person. It can literally be life changing and can make them the head of the household which is almost unheard of in some areas. Micro-financing is something has changed the way my own business operates and I can honestly say that without it, my business would have folded but thanks to local support through mini grants, mini loans, and donations, it still exists within the community.
ReplyDeleteThis chapter opened with such an inspiring story. Reading about the hardships of Saima and the business she created from a loan of just $65 is remarkable. To see her rise up, take control of her life, and create a business to turn it around is truly noteworthy. Instead of sitting and sulking in her miserable life, she did something about it without more than a little help to get started. Saima is a real life example that if you don't like something about your life, the only person who can change it is yourself, depending on others won't get you very far.
ReplyDeleteI also admire her choices of how she decided to spend the money after she had created a booming business. Paying off her husband's debt and paying for her three children's educations are both productive ways to spend money.
I think that KIVA is an extremely beneficial program, the idea of financing the money to people who have a plan to start a business. This is so much more productive than just donating money, because when we donate money it is very difficult to see really where your money has gone. On the other hand, with this program it is easier to see the how your money is being used and you are able to help those people in need, in addition to receiving your money back.
I completely agree that the specific stories helps programs like this. It helps you feel a lot closer to what you're donating to. There are a lot of organizations that generalize with statistics and other vague story lines. Specific stories helps people understand what their money is going towards. I agree that it's great that Samia got the funding to help be successful herself but I think it's even more great that women like her are becoming SO successful on such little loans and money help. The amount of help and money given is tiny compared to how successful these women became! Knowing what little I could donate can actually help, makes donating that little bit seem even more important!
ReplyDeleteI really liked this story! It might have been unfortunate in the beginning with her being beaten by her husband but one this came into play it got alot better! I totally agree with you about not knowing anything. Before this chapter I have never even heard of microfinancing in my life! The fact that she was able to come from nothing and get to everything is amazing!
ReplyDeleteMicro financing is a great example of how one simple idea and action can help solve such an issue. This opens a ton of opportunities for women everywhere. It is a way to empower themselves and see that there is more to life. The Kiva project is one example of how micro financing can work and help women. You don't have to have a lot of money to help make a difference, any contribution is a huge help. I did not know about this project or even about micro financing until I read this chapter and it made me think about how many other people don't know about it. I feel like there needs to be greater awareness about this!
ReplyDeleteYes, it's about having the economic resources for freedom. Not saying that money or finances equal freedom, but it sure can help the process. I'm glad these women are not becoming prideful with their opportunities, such as men do (historically). It's good that they are demanding the respect that they give and don't have to be miserable. These opportunity are inspirational to say that it doesn't take as much money as we thing to accomplish our entrepreneur goals.
ReplyDeleteMicro financing is something I've never heard of, but after reading I'm in favor of gathering more information and then possibly implementing this with my youth group. I especially like the Nerdy blog with Kojo and the hens, he was able to sustain a whole community and someone invested in his idea. I need my youth to get a clear understanding of the almighty dollar and the good it can do when managed properly.
ReplyDeleteI like that your thinking about doing more research and sharing your knowledge with the youth so that they won't have to wait until college to hear the term like us. Also the story was very inspiring with a little help anything is possible. It make me have hope for the people who really need this kind of help all over.
DeleteI was in the same boat in terms of micro financing, it honestly sounded like a scary term from one of those accounting classes I so happily have avoided in college. The book does a great job of explaining what micro financing is, though, and after the readings from this week I am a tentative fan of this concept. The idea that these women could take out a small loan, pay it off, and then take out another slightly larger loan to help grow their business, is an excellent system in my opinion. As I browsed the website from this weeks to-do list, I was extremely tempted to sponsor someone and help them start their business! I don't have the money to do it right now, but I was so taken with the idea of it that I am strongly considering sponsoring someone in the future. For me, micro financing seems like a low-risk way to provide women in developing countries with the money they so desperately need to start a business. I say low-risk because the loan is so small, and also because of the way the system has been set up where a group of women are put together and take responsibility for each other's debts. If a women try's and fails to start her own business, her debt may be paid off by others from the group, and she could pay them back by helping them with their businesses (if my understanding of it is correct), this makes the risk fairly low for investors. I could see micro financing working in many different scenarios, even here in the U.S. One example I thought of was when I used to have lemonade stands as a kid. My mom would by the supplies I needed, I would sell the product, pay back what my mom had spent, and save the rest of the profit for another lemonade stand! I never realized I was a business woman until I read this chapter :D
ReplyDeleteWe don't often hear about micro-financing because we often think about loans as large, scary things. And yes, loans to purchase a home, car, or start a business can be large and scary and when they are not managed properly without accountability, people can default on them. However, loans can be empowering for many people and there are low-risk ways to help others by financing their small businesses. In class, we're going to talk more about micro-financing and educating others about financial responsibility and how they are related.
ReplyDeleteI didn't know the word microcredit until the sheet was passed out on the first day of class. I do thinks it's great that women now have a chance to earn income for their family, but the males of the family can't become complacent. I fear men could mishandle this "new income" in the family. So the men need to earn income for the family. Both parents working and earning an income, and children getting a quality education is a great recipe for success.
ReplyDeleteI think micro financing is a great idea, it's a way to make the environment more economically fit to live in. It gives the less fortunate the chance to have more and become successful. When this is the terms I would always approve because I like to help the less fortunate as much as i can myself. The KIVA project is a great idea and as long as they're funded I believe that they will continue to impact the lives on many people not only women around the world.
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