Creating a Loan Fund for 50 Women in Zimbabwe
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More Information About this ProjectProject Needs and BeneficiariesZimbabwe is experiencing its longest drought in 20 years, a 50% unemployment rate, and 25% of its adults have HIV/AIDS. Under these circumstances, it is impossible for poor, rural women to save enough money to open their own small businesses, such as food/beverages stands, clothing shops, and poultry farms. Expanding CAP’s Revolving Loan Fund by $5,000 will enlist 50 new women in the program, which over time, will further benefit hundreds of women. ActivitiesIncreasing CAP’s Revolving Loan Fund by $5,000 (currently at $11,000) will immediately provide 50 women loans of $100 to start their own income-generating businesses. The women will have one year to pay back the loan. Funding InformationTotal Funding Received to Date: $5,485 Funding Policy: partial Funding InformationThis project is now in implementation and no longer available for funding. Received funds will be used to accomplish concrete objectives as indicated in the project's "Activities" section. Updates will be posted under the "Progress Report" tab as they become available. Donors' contributions and pledges to this project totaled $5,485as of May 12 2004. The original project funding goal was $6,067. Additional DocumentationThis project has provided additional documentation in a Microsoft Word file (projdoc.doc). ResourcesWhy this Project is ImportantPotential Long Term ImpactEach loan will generate $12 in interest and will pay the operating costs. CAP has experienced a repayment rate of 90%. Insurance covers the 10% who do not pay back their loan. Once funds are repaid, funds will be re-loaned to a new set of 50 women. Project Message
Since CAP began operation in 1992, it has provided loans to over 7,000 poor families in Zimbabwe. A little goes a long way in Zimbabwe and the entrepreneurial spirit of CAP’s members is amazing! Who is Running This ProjectContact
Kisha Montgomery, Project SponsorOrganization
Learn more about Credit Against Poverty (CAP) and the project team. Credit Against Poverty (CAP)'s Funded Projects on GlobalGiving
Where this Project is LocatedCountry
This project is located in For more information about Zimbabwe, read the Human Development Report on Zimbabwe or the Wikipedia entry for Zimbabwe. When this Project was UpdatedDate Added to GlobalGivingThis project was added to the GlobalGiving project catalog on July 23, 2003. How Else You Can HelpShare and Save |
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