The Global AFC Microcredit Fund
A youth built, youth led microcredit fund. Through ongoing awareness and fundraising events and the success of major projects such as Riding to Break the Cycle and the Global AFC Microcredit Challenge we are building a microcredit fund entirely managed by the youth creating it. Connecting youth with individual developing world entrepreneurs, we are providing a crucial tool in the fight to escape poverty and engaging a new generation of young leaders.
In partnering with an inspiring and innovative organization by the name of Kiva, we are able to target our lending and directly witness the results. Kiva provides a platform for individual borrowers living in poverty-stricken areas to post their stories, pictures, and business goals and needs - we can then select people we wish to support and receive reports on their progress.
- All businesses are screened through microfinance partners on the ground in areas of need.
- 100% of all loaned funds are delivered to the borrower, and we as Kiva lenders receive no interest.
- Kiva partners’ repayment rate thus far is over 97%.
Who We’re Helping - Global AFC’s Kiva Lender Page and WORLD LOAN MAP
About Microcredit
Microcredit works by extending small, trust-based loans to impoverished entrepreneurs unable to obtain credit through traditional means. Rather than a one-time handout, microlending has the ability to help entrepreneurs from developing regions grow and sustain their businesses over the long run.
The size and repayment terms of loans are structured with poor borrowers in mind, but microcredit is not a handout. The goal is to build a sustainable system that is inclusive and works for the poor in helping them improve their lives over the long term.
This promise was recognized with the 2006 Nobel Peace Prize to Muhammad Yunus of Bangladesh, and the woman of the Grameen Bank which he founded. This prize is not only a symbol of the hope microcredit holds for breaking the cycle of poverty, but as a peace prize, also of the importance of economic equality for long term peace and stability on our planet.
For further information on microcredit, check some of the following sources:
United Nations International Year of Microcredit
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Global AFC Borrowers
Alphonsine Zahourou,
Produce Sales in Cote D'Ivoire
"Alphonsine Zahourou is 44 years old, a single mother, and lives with her 4 children in Yopugon, a township in the north of Abidjan. Alphonsine sells fruits and vegetables in the Yopougon open market. This business is the sole resource from which she provides for the household and education expenses of her family. She wants to purchase goods in bulk to benefit from lower prices."
Shafiqllah Abdulaq,
Retail Store in Afghanistan
"Shafiqllah Abdulaq lives in district 7 of Kabul, Afghanistan with his family. He is uneducated and married with 2 daughters. He has a retail shop, and a lot of experience in this business. He wants to expand his shop to better provide for his family so he requested to take a loan to buy extra materials like chocolates, sweets, baskets, and crisps to attract more clients. He is happy to have this opportunity."
This is AMAZING! I can’t even imagine how many lives this will touch. Thank you*
–Lauren