The journey to sustainability varies for each of the client moms of Honor 1000’s Microfinance Program. Others may be growing and upscaling their businesses, while most may only be starting to build their own little store. It can take them a couple of microloan cycles over a few years, depending on various factors such as how well their business may be doing, how quickly they are able to repay their loans, even personal circumstances and concerns.
Despite these various factors, one thing remains constant and that is the support provided to these mothers. Every client mom that wishes to avail a loan goes through a loan ceremony wherein the Microfinance Program staff share with the clients the organization’s mission, their commitment to regular client group meetings and payments, how to compute their weekly budgeting, and the two types of savings and why it is important. Both new and existing clients go through this loan ceremony before proceeding to their next loan cycle.
Encouragement and support are important, as well as increasing the mothers’ financial literacy to help them attain sustainability.
Help Filipino Families Break Away from the Cycle of Poverty
With your support of AU$385/US$270, we will be able to provide a vulnerable Filipino mom with a small business loan. You may also join us this June in our global fundraising event –
STOP TRAFFICKING 5K. Click on the links below to know more.
Our Partners
Radha, 16 years old, is one of 5 children in her family. Unfortunately, all of them did not have the opportunity to attend school. The family does not own any land, and their house is built on someone else's property.
Radha's mother works as a wage laborer on other's...
38 SHARES
Ganga Damai joined Shakti Women's group after My Business My Freedom (MBMF) reached her village in Nepal three years ago.
She is 46 years old and has six members in her family. The main source of their family's income before she...
10 SHARES
One of the things we are doing in our microfinance program in the Philippines is getting together through fellowship and meetings of our program's existing members.
Last June 2 marked "Bayan Bayanan Fellowship's" first fellowship meeting. They are the first group formed in their area. One of our existing good payers from...
53 SHARES
Dolores is one of the families we help in the Manila Slum Project, our back to school program in the Philippines. This project aims to assist 200 underprivileged children in Manila slum communities.
When we visited Dolores' home, she was preparing the flowers she would sell in the streets that morning. She...
66 SHARES
Kate and Glenn from Captivating recently visited Manila to check in on our programs in the Philippines.
One of their visits was...
13 SHARES
Aside from providing loans for Filipinos through our microfinance program in the Philippines, one of the things we aim to do is start fellowship groups so we can provide the microfinance beneficiaries the necessary moral and emotional support as they start their small businesses.
We are grateful for this community and...
14 SHARES
