Spes Nova is a 501(c)(3) non-profit organization. Our mission is to alleviate poverty in some of the poorest regions of the world by helping the working poor help themselves. We use three approaches:
Working through local microfinance institutions (MFIs), we help make interest-free loans available to entrepreneurs to help them start or expand businesses. These businesses are often very basic (such as small farms, fishing or the manufacturing of hand-crafted products) and the size of the loans quite small (we currently average $500), but they create jobs for individuals, their families and neighbors.
Many of the artisans and craftsmen that achieve early success quickly outgrow the ability of their local markets to absorb their products. Spes Nova provides a platform to access the global marketplace for these products.
The poorest regions of the world are not only some of the most vulnerable to catastrophic events but also the least protected by insurance. The working poor are exposed to natural perils (such as hurricanes, floods and earthquakes) that can simultaneously wipe out all their assets (housing, clothing and personal possessions) and their means for making a living. Spes Nova is preparing low-cost insurance products to protect against these ruinous outcomes.
These three approaches are mutually supportive, and we invite you to join us any way you can!