The idea of offering microloan for the impoverished communities around the world to help especially women establish a small business using the capital originated in the year 2006. Initially these loans were offered in small chunks for low income entrepreneurs.
In 1976, the Grameen Bank was established in Bangladesh to help provide capital for poor, underprivileged entrepreneurs. The last three decades has seen a mushrooming of many international non-profit organizations such as Global Peace Train in Asia, Eastern Europe and Africa to improve economies of struggling and hungry communities.
These organizations strive to create a microloan awareness among individuals and corporate to generate funds for this cause. Socially responsible corporate partner these organizations in conducting awareness and charity events for fund generation. Even a small loan of $100 is sufficient for the economically backward entrepreneur to establish a business and earn enough to feed the family. At least 97% of borrowers of microloan return the money within the stipulated period enabling the organizations to continue lending to others in the community.
Global Peace Train for instance, in association with NS Minerals, is conducting a mega charity event the Midsummer’s Night at Salt Lake City in line with Shakespeare’s famous play “Midsummer Night’s Dream”. This event is organized by La Caille’s popular event organizers.
According to the CEO of NS Minerals, such events are a ray of hope for the struggling communities where thousands of children die of hunger every year. By empowering women with capital funds that can help them with earning their own living on a sustainable basis, it is possible to ensure a dignified solution to their problems.
Families that live in poor economies are usually ignored by traditional lenders. Microloan process specifically helps these families by encouraging innovation and creativity and helps new entrepreneurs who are eager to serve their communities earning substantial income in the bargain.
For this, microloan awareness is created through charity events and through creation of documentaries among the public. This also fosters a social responsibility in corporate that are in a better position to make a significant difference to under privileged societies.
For microloan programs to be successful, investors and entrepreneurs must ensure that the repayment mechanisms are transparent. Micro lenders who generate funds from the public donations should keep citizen lenders updated with the progress in repayments and other details about the services and products created using these loans. This can be done by updating their websites on a regular basis.
Usually, reputed microloan lenders such as Global Peace Train offer Kenyan women with loans of lower interest rates and longer repayment periods to avoid default. It is the responsibility of small businesses that benefit from microloan to ensure regular repayment as this will help organizations continue helping others in the community.
Global Peace Train usually gives loans of $100 or more depending on the situation. Size of the loan generally depends on the non-profit organization or microlender.
According to Aja Duniven, the Executive Director of Global Peace Train, as with everywhere else in the world, Kenyan women ask for nothing but support in the form of capital that will help them start their own business to feed their families. They prefer living in dignity rather than in dependence and charity.
Funds generated at the event in La Caille will go towards empowering women in Kenya and to help them stand on their own feet.
Global Peace Train’s initiative “Making Miracles with Microloans” is all about offering small loans to Kenyan women to start their own small ventures and uplift their family’s economic status. A microloan of $100 is usually enough to get them started. The loan repaid eventually by these women is again pumped back into the community to help other impoverished women.
Reputed non-profit organizations such as Global Peace Train are usually partnered by several corporate looking to help spread microloan awareness by empowering women. For example, NS Minerals is a company that is organizing a massive event called the Midsummer’s Night event in partnership with the Global Peace Train to generate enough funds to help more number of Kenyan women. According to NS Minerals CEO Janelle Rush, this event draws inspiration from Shakespeare’s Midsummer Night’s Dream and is organized with the help of La Caille’s talented event specialists.
Those who have a strong desire to help others but do not know how to go about it are encouraged to make small donations or participate in the event to help impoverished Kenyan women, according to Rush.
Microloans facilitate community development on a sustainable basis by creating opportunities for underprivileged women. Women are provided with necessary tools to build a sustained livelihood that can support their families for a long time to come. Creating microloan awareness, non-profit organizations such as Global Peace Train help address poverty issues and aid with social capital building. Impoverished women are offered a chance not to depend but to build their lives with dignity.
Small scale entrepreneurship is promoted through credit extension for those who do not have access to traditional lenders or banks. A transformative process is initiated by organizations such as Global Peace Train through collective liability, community participation and group lending.
Most of the microloans are returned back by the borrowers by the end of the loan term facilitating help for others like them.
The event begins at 6pm and is open to the public. For Tickets or donations call 801.452.3101 or visit www.globalpeacetrain.com/donations. All tickets and donations are tax deductible.
NS Minerals Resources:
• About: http://sourceminerals.com/about.html
• Products: http://sourceminerals.com/store/store.html
• Testimonials: http://sourceminerals.com/testimonials.html
Global Peace Train Resources:
• Local Projects: http://www.globalpeacetrain.com/United_States.html
• International Projects: http://www.globalpeacetrain.com/international_projects.html
• Events: http://www.globalpeacetrain.com/Events.html
About NS Minerals:
NS Minerals is the cosmetics industry leader for innovative formulations and continual quality improvement in natural beauty enhancement. The company was founded in 2005 by Janelle Rush and her business partner, Isaac Rush. Janelle is an Internationally Certified CIDESCO Master Esthetician with experience in the spa and medical esthetics and cosmetic chemistry. Formulating cosmetics that are beautiful and good for the skin is one of her many passions. For more information, please visit http://sourceminerals.com/
About Global Peace Train:
Global Peace Train was founded in 2009 with the mission of creating partnerships with socially conscious businesses and building teams to empower local leaders for sustainable community development around the world. The organization has delivered services, supplies and clothing to children in 3 countries, filmed 2 documentaries, conducted research of the sustainability of micro-financing in Africa and India, and attended the International Grassroots Peace Conference.
For More Information Contact:
Aja Duniven
Global Peace Train
Telephone: 303-818-8209
Email: globalpeacetrain@yahoo.com
Janelle Rush
NS Minerals
Telephone: 801-452-3101
Email: janellerush@gmail.com
Emily Ballstaedt
NS Minerals
Telephone: 801-766-8485
Email: Emily@sourceminerals.com
More information about Global Peace Train can be found at http://www.globalpeacetrain.com/.