Dallas-based footwear brand CHOOZE is excited to announce that the company has made its first microfinance investment, which will enable approximately 100 women in the U.S. and abroad to start businesses and lift themselves from poverty. Since CHOOZE first launched just over a year ago in September 2011, the footwear company has implemented the Good Returns business model, committing to invest its net profits into anti-poverty programs at the end of each business year. After one year, the recipients will repay the loan and CHOOZE will start the cycle again.
"Microfinance is more powerful than a donation -- it is a sustainable way to create jobs and opportunity by giving women in poverty a hand-up rather than a hand-out," says founder Sharon Blumberg. The brand's immediate success only fuels Blumberg to do more. Plans are already in place to expand the brand beyond footwear in the upcoming year.
CHOOZE strives to give every woman the opportunity to support herself and her family. Meet Martha, a past recipient of the company's Good Returns program. The money CHOOZE recently invested provides loans to help women like Martha to start and grow their businesses.
Martha is a 29-year-old woman from Santiago in the Dominican Republic. She is married and has two daughters. With the help of a micro-loan, Martha was able to start a "cafeteria" (or store) that sells juice, fruit, and snacks. The loans have helped Martha grow her business and reduce expenses. She can purchase products in bulk and does not have to travel as often to the marketplace. Martha's store is one of the only ones in her area, so it not only helps her make money to provide necessities for her family, but it also helps the community as well.
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