Microfinance; because the poor need more than just hope

Posted by:Neville Mehta

Micro financing is based on the philosophy that a small amount of credit can help end the cycle of poverty.  This credit typically aims to empower the underprivileged, mostly women, to start their own business, provide for the family and grow their money so they can achieve long-term financial independence. That is why the Lions clubs have been actively promoting Micro financing due to the many advantages it carries over typical philanthropic activities.

Over the years I have seen how Micro financing by Lions clubs has benefitted hundreds of families across the country. It’s amazing what a small loan can do to create self-confidence through economic independence and social integration. I have seen our clubs work closely in villages in Kolkata and how the women there help each other get on their feet and become providers for the family. A small credit can gives access to capital that is otherwise not possible, because most banks don’t extend loans to those without assets and don’t engage in small loans typically associated with micro financing.

Moreover, micro financing helps create new employment opportunities, which has a beneficial impact on the local economy. It allows families to keep their children in school and improve the over-all condition and status of the family. One of the cascading effects of micro finance is access to clean water, sanitation, and better access to health care, through the income generated, consequently contributing to the overall wellbeing of both the individual and the family; creating a physically and psychologically healthy society.

While we encourage our members to facilitate micro finance projects, we want to be able to touch more lives and make a bigger impact. We at Lions have the reach and expertise but we need your help, without which we will not be able to reach individuals who need help. So I invite you to partner with us and together we can reach out to those who need our help, because micro financing offers more than hope, it provides the means…

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