Trickle Up is an organization that seeks to promote microeconomic funding for the ultra-poor of the world. These people live on less that $1.25 a day. Often it is these people that are left out of funding with microfinance loans (because they are unable to pay back what they take), so Trickle Up has developed seed capital grants ($100-250) which allow these people to obtain money so that they can create small businesses or expand upon what they already may have. Trickle Up has three basic needs that it provides its clients: spark grants, savings groups, and training. The spark grants are given to the clients so that they can start a business or modify whatever they are already working on. The organization matches the clients with savings groups so that they have places where they can store and save their money in case of emergencies. They are also connected to others in the program so that a social network can be formed. The skills training part of the program teaches people how to take care of agriculture or domesticate animals. It teaches them skills that they would need to survive in their own locations. This allows for sustainability in the community and allows them to thrive in their locations. Specifically "In Guatemala, participants learn how to form their own Village Savings and Loan groups, while also being instructed to remember the savings each has deposited, and the role of the leaders of the group."
I feel like the work that this organization is doing is much needed in the areas that they cater. These are areas with needs far greater than the areas usually targeted. Often programs do not even come to these ares because the chances of success are very low and the risks are high. This, I feel is unfortunate not only due to the fact that organizations can make a big impact in these areas, but also because the people need the help that these organizations can provide. This organization is making steps that many others have not. Props to that.
Looking into TrickleUp's website, I noticed that the organization promotes microeconomic funding targeted specifically toward not only women, but people with disabilities. That's something I have never heard of in the context of microfinance! While there is such a big push for the empowerment of women in high-inequality, patriarchal societies, I feel like very little has been done to empower those who are physically disabled. According to TrickleUp, people with disabilities comprise of 20% of the world's ultra poor population, which I believe is an under publicized figure, given the economic struggles that are made even more challenging when the head of a poor family is physically unable, financially unsupported, and often socially stigmatized.
ReplyDeleteThough it is a huuuuuge task to take on, I think it is definitely a step in the right direction. It's awesome to see an organization tackle an issue that is so often unjustly overlooked.