GLOBE – Global Loan Opportunities for Budding Entrepreneurs is a student-managed microloan program in the Peter J. Tobin College of Business and is led by Lady of Charity, Dr. Linda Sama. The mission of GLOBE is to help those living in poverty help themselves by boosting the earning capacity of local entrepreneurs which serves the needs of their local communities. With assistance from their Vincentian partners on the ground, the Daughters of Charity, GLOBE’s loans have helped the lives of families in six countries: Democratic Republic of Congo, Kenya, Nicaragua, Nigeria, Vietnam and most recently the Philippines. The Ladies offer support by donating funds to be used as loans, helping with fundraising efforts, and holding three seats on the steering committee. Many of these loans went to struggling farmers in Libon, Albay, Philippines with repayment terms that allowed them to enjoy yields from their labor before having to pay back the loan Another set of loans helped a number of women in a small village near Concepcion, Iloilo , Philippines– a former fishing village where Super Typhoon Yolanda destroyed the community’s ability to sustain its livelihood through fishing (bottom left). These women opened up sari sari (convenience) stores as part of a cooperative that have allowed the entire community to rebuild. Income from their businesses was used to not only pay back loans and send their children to school, but was further distributed to others in the community to start their own businesses. The women held borrower meetings (bottom right) with the newly initiated to help all pay back the loans. This trickledown effect resulted in GLOBE having reached fivefold the number of women originally given a loan! These stories are repeated in communities throughout the GLOBE sphere of operations.
