Kiva Update: Angèle, a Charcoal Business Owner from Togo, Africa

Veracity Solutions is dedicated to our goal of spreading an entrepreneurial spirit across the globe. That goal has inspired us to fund dozens of micro-loans through Kiva. Every month we reinvest funds from successful loans into additional worthy projects.

To date, we have funded 25 Kiva loans in 19 countries for a total amount of $10,375. More than half of the loans have been paid back in full or are near completion. Currently 25 of 25 loans are in good standing and set to be paid back on time.

Here is a highlight of one of those success stories.

Tucked away between Ghana & Nigeria on Africa’s west coast is the teeny-tiny country of Togo. Angèle, a mother of 5, helps support her husband and children by selling charcoal in the local market. Her loan of $875 allowed her to buy 77 sacks of charcoal for her business. The financial strain for a large purchase order can become overwhelming especially when living in an area which has an average annual income of only $1,500. Angèle has been amazing thus far and has currently paid back nearly 50% of her loan and is on schedule to complete her loan on-time.

These microloans are of high value to all those who borrow through Kiva and to the lenders of these loans. The knowledge of contributing to positive change somewhere across the globe is an amazing reward.

Veracity Solutions – Kiva microfunding, a year-round tradition!

For the past two Christmas seasons, Veracity Solutions has focused its efforts on creating positive influence by being actively engaged in Kiva microfunds. Who is Kiva? They are a non-profit organization based in San Francisco with a mission to lend money via the internet to low-income entrepreneurs and students in over 80 countries worldwide. Kiva seeks to connect people through lending to alleviate poverty. Annually we invest and reinvest funds on behalf of our employees and clients as a holiday gift in hopes of easing the financial weight that many of those applying through Kiva are feeling.

To date, Veracity has contributed to 22 loans from 16 different countries. Of the 22 loans made, 55% have been made to females or female groups. 41% have gone towards agricultural businesses, 18% have been made to service-based businesses, while the remainder has been spread among food, housing, retail and education businesses.

One of the many success stories we have helped to fund comes from George, who runs a photograph & digital print shop in Twifo Praso, Ghana. George has been steadily building his business success over several years using the capital he borrows from Kiva lenders. George bought a power inverter with his last Kiva loan which allowed him to work more efficiently during power outages. He is currently 2 payments ahead of his 8-month repayment schedule and looks to be well on his way to paying back his current Kiva loan far in advance.

We will continue to encourage and support entrepreneurs like George for many years to come through this great program, and hope it inspires those with whom we work to find opportunities to positively influence others throughout the year.

Veracity’s Christmas Gift Provides Livelihood in Philippines

In December 2015, Veracity Solutions proved to be more than just software consultants when they chose to place $1,800 in a Kiva account, on behalf of their current and potential clients, to be used for micro loans, instead of sending out chocolates for Christmas. Kiva ‘connects people to lending to alleviate poverty.’ To date, the donation placed by Veracity Solutions’ software consultants has helped several people in the Philippines and Kenya. Here is one of those stories from Jane in the Philippines. Jane, KivaJane’s storyJane is a 57-year-old woman who lives a simple life with her family in a town of Carles in Iloilo, Philippines, where fishing is one of the most common livelihoods in most communities. Jane and her husband are undertaking this livelihood to sustain their family each day.They have six children: five adults and one school-aged child who still needs their support. That is why Jane is asking for funds to buy new fishing net so that she and her husband can improve their catch.Definitely, she wishes in the future to improve their livelihood to have a better means of living.
Jane requested a loan of $850 for the purchase of her new fishing net. To date, her loan is 76% repaid.We wish to thank the people and companies that we work with that make these types of stories possible.Click here to learn more about Kiva.