Helping Growing Economies, One Village at a Time Source: Communications 09 December 2008 Martha Ngwinda, a mother of three from Malawi, often had to decide whether to feed her children or send them to school.  Determined to afford both, Martha turned to FINCA, the Foundation for International Community Assistance, for a [...]]]> (This post is from the GE corporate website…)

Helping Growing Economies, One Village at a Time
Source: Communications
09 December 2008
Martha Ngwinda, a mother of three from Malawi, often had to decide whether to feed her children or send them to school.  Determined to afford both, Martha turned to FINCA, the Foundation for International Community Assistance, for a micro loan of 1,000 kwacha (US $10), and started a nursery school at home. 

With the help of a few additional loans, Martha now teaches 30 children with the help of her neighbors, and has bought books, toys, and food for the school.  With what she earns now, she can feed her children and send them to school without a second thought.
 
To help women like Martha, the Experienced Commercial Leadership Program Women in Commercial (ECLP WIC) recently launched “Investing in Women.”  The goal of this campaign is to raise $5000 – the capital needed to fund a Village Bank in Malawi through FINCA.  
FINCA is a non-profit organization that provides financial services to the world’s lowest income entrepreneurs so they can create jobs, build assets, and improve their standard of living.  One of the most influential microfinance organizations around the world, FINCA pioneered the Village Banking method. 

The system is simple: neighbors come together in financial support groups called “Village Banks.”  Individuals borrow working capital (usually $50-$100) for their micro-enterprises and, since they have little to offer for collateral, the group guarantees those loans. Because neighbors support each other while growing their businesses, Village Banking helps invigorate entire communities, which become part of the larger marketplace.
“Investing in Women” connects the efforts of ECLP WIC members with GE Money’s Banking on Women campaign.  Banking on Women seeks to empower the world’s women by providing them with financial education, entrepreneurial training, and access to microfinance through its partnership with FINCA. 
FINCA’s revolving loan system is very effective, with a 97% repayment rate. The $5000 fundraising goal of “Investing in Women” will fund one bank in Malawi, and help women receive the loans they need to build their businesses and provide a better life for their families. Once we reach the $5000 goal, we’ll receive a report about the Village Bank we fund, complete with a photograph of the members, information on their business types and loan amounts, and individual stories. 
Your gift has the power to change lives, one woman, one family, and one community at a time.
To donate to the campaign, visit the FINCA Investing in Women Team Page.