“Microfinance stands as one of the most promising and cost-effective tools in the fight against poverty.”
The Fundación Alianza Caribe is currently preparing the implementation of a program of Microfinancing in the Costa Caribe de Veraguas. Microfinance is the practice of extending a small loan or other form of credit, savings, checking, or insurance products to individuals who do not have access to this type of capital. This allows individuals who are living in poverty to work on becoming financially independent so they can work their way into better living conditions.
Since the completion of the new road from Santa Fe to the Caribbean Coast, this region has enormous eco-tourism development potential. With this Microfinancing project the Fundación Alianza Caribe intents offer a solution that can help more people be able to improve their living conditions. In our opinion these are the benefits of microfinance in developing countries and why everyone should consider getting involved in this form of lending:
It allows people to better provide for their families.
It gives people access to credit.
It serves those who are often overlooked in society.
It offers a better overall loan repayment rate than traditional banking products.
It provides families with an opportunity to provide an education to their children.
It creates the possibility of future investments.
It is a sustainable process and can create real jobs.
It encourages people to save.
It reduces stress and allows people to feel like they matter.
It offers significant economic gains even if income levels remain the same.