Provide Business Loans and Training to Women
- November 22, 2022
- 4:40 am
Impact Level
Provided funding for 60 days of microcredit and training for a household
Project managed by: Mekong Plus
Country: Vietnam
Project Description
About 5-10% of villagers live in acute poverty, and have less than $1/day at times. Mekong Plus typically works with over 2000 households in Hâu Giang province, providing loans, training and coaching so that families can start their own business.
Mekong Plus manages to get them out of this situation through 4 to 5 years of training, microcredit, and close coaching. On average, revenues increase by 25% per year, and they double in 4 to 5 years. Your support makes this all possible.
More About This Project
About 30% are single mothers: the husband has abandoned the family, is alcoholic, or had an accident and no longer supports the family financially. We provide practical training & coaching so as to maximize the chances of success.
The first loan is about $100, to be refunded within 5 months (the time to raise a chicken/pig, or to harvest a crop). The next cycle is usually 120%, increasing by about $20 with each following cycle. On average, households’ incomes double after eight cycles and the woman will no longer borrow from Mekong Plus, having had regular coaching on how to care for their livestock, frequent check-ins, and advice on how to borrow from the bank.
More than 7000 households, approximately 35,000 people, have benefited from the program and have escaped acute poverty. Today, another 6,500 new households are in the program.
Get involved
1. To see the global impact we are making: click here
2. Do you understand the basics of Bitcoin? Click here to take our quick Bitcoin Quiz
3. For a curated list of helpful Bitcoin resources: click here
