What is the good of all the money in the world, if one cannot enjoy it? Sure, different people have different ideas on how to spend one’s hard earned cash (buying sports cars, first class plane tickets and huge mansions usually come to mind), but for Joe Johnson Mercy Foundation, what gives him the most personal satisfaction is to see his money help the poor improve their conditions by their own efforts. Joseph Johnson is the CEO of the Welfont Group, a commercial real estate brokerage firm that specializes in acquiring under-utilized and distressed real estate. His company is doing so well that Joseph Johnson can afford to divert some of his profits into micro loans through the Mercy Foundation to help those in need.
Small Things Taken for Granted Could Make a Big Difference for the Poor
For most people living in First world countries, lack of money usually does not spell doom. Sure, it might be a bit inconvenient to try to restrain oneself from purchasing some unnecessary (but desirable) luxury goods, but for many of the poverty stricken people toiling in many Third World countries, funds shortage could make a huge difference in their quality of life, sometimes even survival chances. Lonelia, a married mother of five children, has been struggling in the Philippines because she lacked the funds she needed to expand her rice retailing business. Nothing is more frustrating than having to tell your customers to come back some other day because you are all sold out. Lonelia considers herself very fortunate to be able to acquire a micro loan of just 10,000 pesos to grow her business and stay competitive in the market. This means she now can continuously keep her rice retailing business open to all her customers with no breaks in between. Her customers view her as a reliable rice supplier for their daily meals, and Lonelia gets to have a steady cash flow.
The Mercy Foundation Partners with Kiva to Alleviate Global Poverty
Based in San Francisco, California, Kiva is a nonprofit organization that specializes in disbursing micro loans to poverty stricken populations around the world. Heavily reliant on the internet and the concept of crowd funding, Kiva believes that every little bit helps. Those who take the chance to give micro loans would be heartened to know that borrowers of micro loans are actually very good in repaying their loans. In fact, the repayment rate of micro loans is a high 99 percent. This is one of the biggest reasons why Joseph Johnson decided to go with funding micro loans rather than relying on pure donations to help tackle global poverty. Micro loans allow the poor to take matters into their own hands and be responsible for the direction of their lives. Indeed, seeing one’s business succeed and quality of life increase are major motivators that keep reminding everybody that with great efforts and a little tiny financial help, big things could be achieved.