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Traditional banks do not usually reach the rural population and are not interested in giving small loans to low-income families. For this reason, microfinance has been recognized as an important instrument to meet the financing needs of the rural poor and low-income population. Microfinance is about giving small loans for different purposes that usually range from 200 to 500 USD. Microfinance is a lending mechanism, which is similar to a repayable interest free loan given by some banks, but differs in its nature and size. Microfinance is generally small in volume and responds directly to the specific needs of rural or low-income urban communities.
Micro-finance is a proven way to strengthen viable, small businesses, resulting in increased household income and savings, and thus, alleviating the crunch of economic poverty. Microfinance system is designed for those people who do not have access to other formal financial institutions. Micro-finance beneficiaries are often self-employed, agricultural farmers, push-cart vendors, basket weavers and household-based business entrepreneurs. The access to micro-finance would help the poor to smooth cash flow and avoid periods where access to food, clothing, shelter, or education is lost. Micro-finance loan can make it easier to manage shocks like sickness of a wage earner, theft, or natural disasters. The poor people uses such financial help to build assets like buying land, developing agriculture, improving business which gives them future security. Women participants in micro-finance programs often experience important self-empowerment.
Because of the economic development initiative taken by NGOs, self-employed, agricultural farmers, push-cart vendors, basket weavers, many small businesses expand and become viable. As a result, poor families have enough to feed their children and send them to school. The marginalized poor develop their businesses and manage to live a decent life. This approach is very powerful in lifting communities from economic poverty, ultimately leading the community to be self-reliant and live with dignity. Rahbar Foundation is supporting to the poor and unprivileged people through micro- finance in collaboration with other NGOs. If you decide to partner with Rahbar Foundation in building economically stronger communities, you would be helping to reach out to millions of poor people and adding on to microfinance funds for communities. You can donate your Zakat and Sadaqah for microfinance support.It is an act of sadaqahjariya and you will get reward lifelong for helping the poor.Rahbar Foundation shall partner with local NGOs in funds disbursement and keep the track of the funds utilization in business setup and progress.To support microfinance projects please click on DONATE NOW and send your donations. You can make one time donation or setup monthly recurring donation through safe and secure PayPal system on our website.