Give a man a fish and he’ll eat for a day. Give him microcredit instead and he’ll eat for a lifetime. This is the mantra that propertyfinder.ae, the UAE’s leading property website, are living by this Ramadan. Teaming up with Pi Slice, a web-based social platform dedicated to online funding for micro-entrepreneurs in MENA, propertyfinder is raising funds to help low-income individuals start or develop a business and support themselves.
By visiting the ‘lending page’ that the companies have set up, companies and individuals can view a list of and support unique micro financed projects.
More than 100 million of the world’s poorest currently benefit from microcredit. The MENA region is itself home to 370 million people, of which 26 percent live on less than 2 dollars per day. Microloans are used to help people who have no access to capital, start or expand tiny businesses – such as selling soaps or producing locally farmed chicken – and take care of themselves and their families.
“The microcredit model is great for the socially responsible business. It allows corporate stakeholders to make a significant difference at the grass-roots level – by giving small business loans to people and helping them put food on the table and clothe their children,” said Michael Lahyani, CEO and Founder of propertyfinder.ae.
“What’s remarkable is that by helping one person, you actually touch the lives of many more people. It’s a great way to create long-term, sustainable change,” added Lahyani.
100 percent of the money lent through propertyfinder and Pi Slice’s page will go to the micro-entrepreneur. Companies and individuals can choose to simply lend with an aim to get their money back or reinvest it in another project listed on the page. Contributions start from as little as USD 20.
“Microfinance gives people a dignified route out of unemployment. It’s a hand up, not a hand out,” said Pi Slice CEO, Genny Ghanimeh. “By partnering with propertyfinder.ae, we hope to enhance the online entrepreneurial funding landscape in the MENA region,” added Ghanimeh.