Eliminating Global Poverty through Microcredit
The Foundation for Women provides microloans to industrious women living in poverty in San Diego and Liberia. Their program is adapted from a renowned Nobel Prize-winning model and offers women essential skills and resources to help them build their own sustainable businesses. “These dynamic women are willing to work hard,” comments Deborah Lindholm, Founder & CEO, and longtime La Jolla resident. “However, they’re limited by a lack of credit history, discretionary funds and business skills.” That is where the foundation makes a life-altering difference.
With over 80,000 women living in dire poverty in San Diego County, the need for help is great. In 2011, The Foundation for Women served 525 women from its fifteen locations around San Diego. Ninety-five percent of the microloan recipients were Latina and a good number of them have roots in Tijuana. Worldwide, the foundation has helped over one million women work their way out of poverty. As the women achieve economic well-being, they dramatically transform their families and communities.
In San Diego, the foundation offers qualifying women micro-entrepreneurs initial loans of $250 with the potential to renew at $500, then $1000. After successful completion of the program and final loan repayment, they may apply to the funding partner, ACCION San Diego, for a loan of $1500 up to $35,000. Currently, the foundation’s micro-entrepreneurs use their loans to buy supplies to make original handcrafted wares or market health, beauty and household products and services. The women sell their merchandise at local farmers’ markets, bazaars and other San Diego-based events. Some of the women operate their own stores and a few have hired employees. The Foundation for Women invites supporters and well-wishers to join in this important mission of empowering women, and Giving Back Magazine honors the foundation and their amazing participants as part of National Women’s History Month. Donors, volunteers, mentors and new members may contact The Foundation for Women at www.foundationforwomen.org or call (858) 483-0400.
