Microcredit
What is Microcredit
Microcredit focuses on lending small amounts of money –ranging from 1,000 USD to 5,000 USD– to new entrepreneurs and/or individuals who have no access to typical banking loans in the developing world. It is designed to support the entrepreneurship of small to medium businesses in order to alleviate poverty as well as empower both men and women to improve their respective communities
Microcredit is branch of microfinance, which provides a wider range of financial services to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983 by Muhammad Yunus. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries such as Lebanon in the middle east, South America, Africa… and is presented as having “enormous potential as a tool for poverty alleviation.” Microcredit is a tool that can be helpful to possibly reduce poverty among females as well.
Advantages of the Microcredit loan system
A microcredit loan is an efficient and popular method in fighting poverty and supporting those who cannot access the banks or financial institutions by allowing them to start small to medium businesses/enterprises. It encourages micro-projects to be implemented in local communities to boost their economy and their development. These programs reach out to several sectors like agriculture (villagers groups, farmer cooperatives and professional agricultural organizations), crafts (groups of craftsmen and female craft associations), social economy funding (Mutual Savings and Credits Societies, loan associations and village banks) and social protection (mutual health and primary health funds).
YOUR CONTRIBUTION:
LOAN FOR MICROCREDIT
Maak will use the money for a period up to 5 years to sponsor a small particular investment or project.
OUR ACTION
Each amount donated will help a family or individual to start a business activity and integrate
YOUR CONTRIBUTION:
DONATION TO MAAK
Contribution to Maak in the form of a donation.
OUR ACTION
Contributions to cover expenses of the association and create additional opportunities for new microcredit projects.