Mash has a really strong history of offering loans to third world entrepreneurs through a scheme called Kiva; it is a cause that is close to our hearts.
As a company with entrepreneurial roots, we understand and admire the drive, grit and perseverance it takes to pursue and maintain your own business. Therefore we like to support others who are trying to do the same but have more hurdles than most in their way. Each month, the team at Mash HQ decide who we will back and help them in their journey.
So what does Kiva do?
Kiva provides, through crowd sourced interest free loans, people the means to get some much needed capital to allow them to get their business started, or help them grow, expand or even gain access to basic necessities like medical care.
The premise with Kiva is that you offer relatively small value, interest free loans, but you club together with other people to lend as well. After a period of time (it varies), the money will be paid back to us so that we can use it for future loans.
Mash don’t make any profit on these loans, but once paid back we are then able to re-loan the money to other individuals/businesses. Due to the relatively low value of individuals loans we are usually able to help more than one person/group/project.
This month we supported Ahtamjon, a 60 year old man living in a town called Rudaki, in Tajikstan. He is a father of four children, devoted husband and a pastry salesman. For the past three years, Ajtamjon has worked at a concession stand near his local hospital, selling hot pastries with filling to local consumers. He is hard working and devoted to his family. His wife has been battling a health condition, however, misfortune has recently hit his family. Her health condition has worsened. Ahtamjon desperately needs to consult a doctor, however, in order to be able to do so, he requires a loan.
With our loan and the loans from 5 other lenders, Ahtamjon will be able to do so.
We also had an update from a previous loan to the Mapendo Group in The Congo (DRC) and are proud to share this with you:
The client is very happy because with the credit, she was able to increase her profits, she greatly improved the health and quality of life of her family, she also paid school fees for her children. Without this help, she would never have been able to realise her urgent projects. She wishes to thank HEKIMA and its partners.
If you’d like to learn more about Kiva and how you can contribute to such a life changing cause, visit https://www.kiva.org/