Kiva loves supporting female entrepreneurs around the world. When women gain access to finance, they become independent and self-reliant. They tend to manage their household finances more carefully, start and expand their businesses, and save money for their childrens’ education. This kicks off an incredible cycle of change for entire communities.
Fundacion Namaste Guatemeya joins our growing list of partners that specifically focus on women’s entrepreneurship in rural areas. That is why we are so thrilled to announce a long awaited partnership with this tremendous organization!
Guatemala is a country where education for girls is rare. Only 5% of girls complete primary education and as a result, more than 60% of them end up in informal jobs and have no education in the basics of managing a business. That is why it’s hard for them to be eligible for loans from many finance institutions. Furthermore, while working in informal jobs, their rights are often violated.
Founded in 2004, Fundacion Namaste started by providing grants for different projects, including financial literacy, credit products, and more to help marginalized women. Within a few years, the organization expanded and launched the Namaste Business Development Program (NBDP).
NBDP combines personalized mentorship, financial literacy and customized microloans to help prospective female entrepreneurs build businesses that will be sustainable and bring large profits. The program lasts one month and is offered after the borrower has been approved to receive a loan.
During the program, female borrowers learn about how to improve their cash flows and income, write business plan and more. On top of this, they are taught how to build strategies for their enterprises and learn how to optimize their finances.
Fundacion Namaste Guatemaya’s mission is “to alleviate poverty through the provision of sustainable financial services to women.” Kiva is thrilled to help the organization achieve its mission and impact an even greater number of female borrowers!
How to be part of this business development program? After being approved to receive a loan, female clients form groups to learn about investing, calculating profits, managing sales and marketing. Afterwards, each of them has a one-on-one meeting with a business advisor to learn how to improve their businesses.
As of today, the organization has supported over 1,000 women to receive training and access financing.
If you want to increase the number of women entrepreneurs in Guatemala and help them achieve financial independence, then this partner is a right choice for you!
LEND THROUGH FUNDACION NAMASTE GUATEMAYA TODAY!
Have questions about Fundacion Namaste Guatemaya? Send them our way at blog@kiva.org.
Images courtesy of Fundacion Namaste Guatemaya.
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