Microfinance has become a significant enterprise in developing countries. The microfinance model loans small amounts ($100 -$500), often too small for a bank, to individuals to improve / expand their businesses. To participate in a microfinance organization, individuals come together to manage savings, loans and payments. Each group decides who and how many can join (anywhere from 8 – 20 members). Members hold each other accountable for saving money, developing sound business plans for loans, and repayment of the loans. Many of these groups also develop strong personal ties, encouraging and supporting each other during difficult times.
God has used the Life for Children Micro Enterprise Development Department (MEDD) to change the lives of people like Doris.
Doris is a member of the Stable Parents Guardian Group. She taught herself how to sew on a treadle sewing machine and started a business making school uniforms. A visiting mission team from Wesley UMC in Evans, GA. met her in the summer of 2013 and bought some of her school uniforms to bring back to the U.S. This purchase allowed Doris to repay her first loan and obtain a second loan. Since that time, she has been steadily increasing her stock. Doris does her sewing at home and brings her wares to the market in Kisumu. She shares a stall area just outside the Kisumu City Market. Her enthusiasm at showing her stock shows how much her self-esteem has soared because of her business!