Group Promotes Microfinance at Women of Faith Conference

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By Kenneth Wong

Story Published: Apr 9, 2011 at 6:46 PM MDT

Story Updated: Jun 25, 2011 at 6:54 PM MDT

BILLINGS - As the Women of Faith conference wraps up at MetraPark on Saturday, some of the conference attendees took time to help women they had never met.

Charity Group World Vision set up a booth at the conference to promote their microfinancing project. Microfinancing is a small business loan that is targeted towards people in developing countries who wants to open a small business, or expand an existing one.

Although the program is open to both men and women recipients, only women microfinancing applicants were featured at the booth. This was the first time World Vision had a microfinancing booth at the Women of Faith conference.

"It's an opportunity for women in Billings to partner with women around the world," said Karen Larsen, a volunteer at the booth.

Microfinancing is often low-cost, with cost going as low as $25. Such a loan would be but a drop in the bucket here in the US, but for people in developing countries, it can mean the difference between being able to execute a business idea or having it remain on paper.

"(These people) They want to work hard, they have business ideas," said Larsen, "They come to us, we give them business training, and they can then take out a small business loan that they can use to generate income."

With most of the booths at the conference being used to sell merchandising such as books and t-shirts, event organizers said this allows conference attendees to have a different experience.

"You come in, and you sponsor someone. With this small donation, you can help women all over the world," said Susan Ellingburg of the Women of Faith.

Larsen admits the concept may be hard to grasp for some, but they hope people will at least be willing to listen.

"It can be a little intimidating," said Larsen, "but once you have an opportunity to come and talk to people and ask questions, people get excited really quickly."

According to Ellingburg and other event officials, the booth has been getting many visitors during the conference's free time period.

For more information about World Vision's microfinance program, click on Connections.

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