Following Typhoon Haiyan in the Philippines, November 2013, VisionFund and World Vision have been working with communities to help them recover.
In response to an assessment that showed families were struggling to make a living, a special loan product was designed to support rapid self-recovery. 'Bangon Kabuhayan' means to 'bounce back' and the Bangon Loan is a one-time livelihood recovery loan. It allows clients to borrow a larger amount than normal and to pay back over a longer period of time with lower interest rates. Clients don't have to start paying back until after two months, and they can also choose to restructure their existing loan if they need to.
Watch this film to learn how.