The concept of microfinance is simple yet empowering; through giving small loans (some as little as 50 USD (US Dollars)) to members of the developing world, they can use their existing skills to create viable business and work their way out of poverty. As stated by Nobel Peace Prize winner Dr. Muhammad Yunus, the pioneer of microfinance programs in the developing world, “All people are entrepreneurs, but many don't have the opportunity to find that out.” Through creating a sustainable loan program, we can give them that opportunity.
In August of 2008 the Atorkor Development Foundation, ADF, initiated a micro-finance program with the mission of providing small loans along with business management training to the people of Atorkor. To kick-off the program, Samantha Rayner together with ADF local staff in the Atorkor village screened community members in order to obtain a deeper understanding of the needs of the people and their businesses. Through a quick announcement at a funeral, our business training class the following day was flooded with more than 150 enthusiastic applicants. However, our initial fund only allowed us to accept 32 applicants for the first cycle of loans. There were clearly many villagers who would have benefited from an opportunity to grow and sustain their family businesses. Realizing that we had a formula for helping villagers in Atorkor, our focus turned to building up a fund.
Through small donations, we created an initial fund of 3,000 USD (US Dollars) which was enough to start 32 businesses and in turn support the basic needs of 32 families. In addition to direct loan beneficiaries, our program creates employment for the three locals who manage our daily operations and are paid through the interest earned on loans from the fund. With additional funding, we could extend our services not only to other members of Atorkor but also those of the surrounding community. To learn more about the people and businesses we support, click here.
HOW CAN I GET INVOLVED IN THE ADF MICRO FINANCE?
DONATE: To make a donation which will directly benefit sustainable solutions for Atorkor village entrepreneurs and their families, click on the PayPal button below.
KICK OFF FUNDRAISING: To help kick off fundraising or help in any way simply fill out the contact form below.
“My experience [has] given me an unshakable faith in the creativity of human beings. It leads me to believe that humans are not born to suffer the misery of hunger and poverty. They suffer now as they did in the past because we turn our heads away from this issue.”
-Dr. Muhammad Yunus
