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Microfinance

Home What we do Microfinance
Approximately 896 million people in developing countries live on $1.90 or less a day.
22,000 children die each day due to poverty.

Microfinance gives individuals the chance to work their way out of poverty – a chance to build a better future for both themselves and their families.

WF Aid provides microfinance loans to help individuals and families with the financial support and resources they need to improve their standard of living and economic self-sufficiency. Funds from WF Aid are used to either start a small business or expand an existing one.

Our current projects

According to a recent survey, 77% of households in India have no regular wage.  In September 2016, we began working on the UBER/OLA microfinance scheme targeted at empowering individual drivers, especially the youth, to own their own vehicles and become UBER/OLA drivers.

A loan was provided by WF Aid with a two-year repayment period.

Once the loans are paid back, we intend to recycle the funds back into the appeal to provide quick and easily accessible micro-credit facilities to others to increase their standard of living and create economic self-sufficiency.

It costs $6,207 to support one individual.

We are aiming to raise $62,070 to initially support ten individuals.

Project ProposalDonate Now

Case studies:

Meet Mohammed*. Mohammed lives in Mumbra, a town that is approximately 28 kilometres north east of Mumbai.  He is a family man from the Khoja community and runs a business that he has set up himself – an ice cream parlour.   Extremely hardworking, he has already purchased an ice cream machine and established a strong customer base.  However, sales have reduced over the last year and in order to help increase sales and get the business back on track, he wanted to purchase a soda machine – the cost of which is £1,250.  Unfortunately, at this stage, he is unable to purchase this himself.

Through our support, we provided an interest-free loan to Mohammed to purchase the equipment he requires. The funds that are returned to us through the repayment of the loan will be recycled and used to help others like Mohammed.

*WF Aid has changed the names of our recipients in order to protect their identity and maintain their dignity.

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