Earlier today I came across an excellent article discussing the practices of a successful Israeli organization which provides microloans to women who wish to start their own entrepreneurial ventures IN ADDITION to providing these same women with needed business skills, knowledge and know-how.
I found this to be such a powerful and uplifting concept since one without the other simply is not enough - the two elements together, capital and mentorship/guidance are what so many women entrepreneurs need regardless of the specific part of the world in which they wish to launch their dreams. In the article, the CEO of the organization (Lena Gurary, CEO of Supportive Community) points out: A loan is worthless if a person is not given any direction and being given direction is worthless if you don't have the capital to start a serious small business," Lena says. "So first we prepare women and give them all the tools necessary to start or expand a business. Then we give them a small loan and see how it goes."
The program appears to be a success: according to the article, in six years of operation, the organization has grown exponentially, having been able to provide services to over 3,000 women with a full-time staff consisting of only seven members. Not only is the organization successful from a social perspective, financially it has proven to be extremely competitive with a default rate of only 3.4% of the total money loaned by the program.
So far as I'm aware a program of this specific kind doesn't exist in the United States. Yes, there are numerous women's business organizations, professional and social, et cetera, in addition to microfinance organizations and numerous non-profits dedicated to the cause of making a difference as it pertains to the status of women in poverty throughout the world. That said, the powerful one-two punch provided by Supportive Community seems to be a unique concept and is one that really should be applauded and should certainly be replicated. Women need not be in poverty to reap the benefits of such an amazing organization since the need for mentorship and the need for capital are key to any individual who seeks to pursue an entrepreneurial undertaking. Becoming an entrepreneur is difficult enough especially in today's business climate however efforts such as the kind being put forth by wonderful organizations such as Supportive Community help to reduce doubt and anxiety while increasing hope and confidence in the heart of the entrepreneur and that right there is more than half of the battle.
Below are some noteworthy organizations in need of our support, which provide some aspect of the microfinance, social awareness or mentorship efforts, each of which is a key element related to the struggle faced by small business owners regardless of where on this Earth they may choose to call home:
Below are some noteworthy organizations in need of our support, which provide some aspect of the microfinance, social awareness or mentorship efforts, each of which is a key element related to the struggle faced by small business owners regardless of where on this Earth they may choose to call home:
- KIVA (http://www.kiva.org/) - World's first person-to-person microlending site
- SCORE (www.score.org/) - Leveraging the knowledge and experience of retired business leaders to provide mentorship, counseling and training to new business owners/entrepreneurs
- Women for Women International (http://www.womenforwomen.org/) - Help women in war-torn regions of the world by providing financial and emotional support, job skills training, rights awareness, and small business assistance
- Supportive Community - English translation of website (http://www.svivatomehet.org.il)
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