WHERE IS ALL THE MONEY YOU PROVIDE COMING FROM?
In the past, SWIFT organized fundraising events such as bake sales and pizza sales to raise money for the women we are supporting.
However, due to COVID-19 and increased safety precautions, SWIFT is now exploring new ways to raise money in the safest way possible, such as online or socially-distanced outdoor events. Currently, we are looking into receiving generous sponsorship plans to support our mission.
How is the money delivered to the women in need?
Our main method of delivery is through Kiva, a non-profit organization that serves as a microfinance portal to lend money to low-income entrepreneurs.
As we are still developing and growing as an organization, we aim to deliver the process directly through our own services with 0% interest, once we get sufficient support from sponsors.
HOW AND WHEN WAS SWIFT FOUNDED?
SWIFT was originally adapted from LOMA (Lending Out Monetary Assistance), another student-run organization at ABA. Unlike LOMA, SWIFT gears towards specifically helping low-income female entrepreneurs.
Over the past year, we have lent approximately 26 000 USD to over 1000 borrowers, and we hope to continue doing so in our mission to make a meaningful impact in our world!
How do you know the people in need of support?
Currently, with Kiva, people who need financial assistance can directly sign up, with information on lending length, etc. Our aim in the future is to focus our efforts on assisting the local women of Oman, where we can interact with and support borrowers in a more meaningful way.
Placing ads in newspapers and advertising extensively on social media are our two key ways of being able to get in touch with and sustain the local population in need.