This is saying of Confucius for how a man can survive: “Give a man a fish and you feed him for a day. Teach a man to fish and you will feed him for a lifetime”. Just giving help or alms is not enough. One should also help how to earn for a living or “how to fish”.
This is part of the mission statement of Center for Community Transformation:
A small injection of capital breaks this cycle of poverty.
Microfinance loans and accountability structures enable hardworking people to grow their businesses into economic engines that generate enough income to provide previously lacking life-essentials such as food, housing, basic health care, and the hope for a brighter future.
Microfinancing is the answer to enhance a small or micro enterprises. It is lending of small amount to micro entrepreneurs or businessman. So what is the difference between ordinary loans to banks and microfinancing? First of all there is no collateral involved. The only requirement for assurance is the signature of four friends or acquaintance. Because of this the loan has a sharing responsibility, the signatories are responsible so the spirit of “bayanihan” becomes stronger.
