A revolving loan fund has the potential to change the lives of hundreds of women and their families. A $100 business loan can be the difference between being self-sufficient or trapped in poverty.
What is the issue, problem, or challenge?
Zimbabwe 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.
How will this project solve this problem?
Increasing 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.
Potential Long Term Impact
Each 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.
Total Funding Received to Date: $5,485
Funding Policy: partial
This 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 "Project Report" tab as they become available.
Donors' contributions and pledges to this project totaled $5,485 as of May 12, 2004. The original project funding goal was $6,067.