The concept of micro finance is a rather new thing in the market, a lot of people are still unaware of the exceptional help it renders in raising the down trodden people in giving them a better life. This system of lending out money was initiated in the e developing countries to help small scale businessmen fulfill their dreams, to help provide funding for those people who could not find so through the traditional forms such as the banks.
Often the slightest problem in the credit score of a person makes him ‘not eligible’ for any kind of loan, and ultimately they end up closing down their business. It is unfortunate that even though some small place person may have a big business idea, it cannot be materialized because of the unavailability of funds. Micro financing has brought an end to this misery of these upcoming business entrepreneurs.
The Joe Johnson Mercy Foundation has made great contribution in this regard by making this micro financing available to a large section of the underprivileged class. They have been helping people realize their potential and materializing their dreams in Africa, Asia, Latin America, etc. they consider that every human has the right to live their life with their head held up high. In this way, the foundation has rightly utilized this concept to enhance business entrepreneurship and give a boost to the commercial world.
By giving them funds through the micro finance system, they have initiated self sufficiency in these people. The ability to earn something on their own and save money for their future use has brought a smile to the faces and the lives of these otherwise, dejected people. The Mercy foundation works in collaboration with their partners and provides the loans to selected people all across the globe. The loan is given out with certain terms and conditions, but all of which are made after keeping in mind that it does not cause discomfort to the borrower.
The loan amount is required to be repaid in small amounts once the business starts to roll. They are numerous people who have been grateful to this foundation in helping them change their lives completely by either setting up a grocery store, or a tea stall, or a chicken hatchery and other small businesses like that. The Joe Johnson Mercy Foundation aims at empowering the people and bringing them out of the clutches of poverty by making them financially stable and giving a raise to their self confidence and morale.
It is thus that more and more people need to be educated and made aware of this immensely helpful new concept of micro financing. The Mercy foundation volunteers have been working towards it and have succeeded to a great extent by spreading the life changing benefits of the lending system. Located in Tampa in Florida, this foundation stands out in the fact that does not depend upon sponsorships for the funds it requires. It is as if God is looking after them so that they are able to look after their fellow human beings.