There are many ways to change the world. There are also millions of organizations and nonprofits doing amazing work in the world. But have you heard about the powerful impact of microfinance?
Microfinance loans are small loans given to an entrepreneur. He or she will invest the money in a business, and pay back the loan over time. These loans pave the way out of poverty and helplessness, giving the poor an opportunity to succeed as business owners. It’s an incredible form of social impact investing that makes a drastic change in the world!
I love microfinance. I believe that these loans make a difference for generations, and are so much better than simply handing poverty-stricken individuals money with no follow-through. Microfinance provides a hand-up, rather than a hand-out!
Here are two key reasons why I love microfinance:
Microfinance Provides Empowerment
With microfinance, the loan must be repaid. This means that the client is accountable for the money he or she borrowed and benefits greatly when ongoing business and lifeskill training happens. When the client comes back to pay his loan, he will sit in training for several hours. Additionally, when collecting the loan payment, he will receive lifeskill and business training.
This type of ongoing accountability makes a dramatic and life-long impact. Ultimately, the people are empowered and, therefore, are able to truly change their lives – and the lives of those around them.
Microfinance doesn’t simply change one life. It changes lives for several generations through the education and lifeskill training provided.
Microfinance Helps Spread the Good News
Ultimately, this is the most important reason of all. Oral Roberts said, “Whoever controls the finances of a city or nation will control the spiritual climate as well.” I think this quote is incredible. It means that you and I have the opportunity to make a massive impact not only physically and environmentally, but spiritually.
If we provide for the basic needs of a community, then the hearts of the people will be ready for deeper spiritual truth. In other words, mouths must be fed and minds must be rested in order for hearts of be open.
Providing for the basic needs of a community is how the Good News of the gospel effectively goes forth!
Give Through Microfinance
Tricord Global works with banks and credit unions around the globe to provide microfinance loans to small business owners in developing countries. What makes Tricord different? We’re committed to providing global entrepreneurs with personalized business and financial advice, as well as accountability. This makes our clients successful! Without the education and training, our clients would be handed money without a way to generate cash flow and run a successful business.
At the end of the day, Tricord Global is about seeing our clients reach financial milestones they hadn’t before. That is why our business model works.
In much the same fashion as microfinance, right now we’re hosting a Go Fund Me campaign for The Farm Uganda. This partnership has the potential to change generations with much the same power as microfinance!
The Farm Uganda provides food, services, and equipment to an entire community. This means that when you give, you’re not helping one person. Instead, you’re helping a whole village. Consider donating today!
To find out more about Tricord Global and microfinance, click here.
Here’s the deal: maybe you’d like to be able to invest with Tricord Global or give a large donation to The Farm Uganda. But maybe you feel stuck in the grind of working just to cover the bills. You need vision. You need a plan. Download my FREE five year goal-setting sheet to get started! It lays out the steps one by one to help you head in the right direction. Sign up below to grab it for free!