With a loan of $50 to $200 plus training, a poor rural woman can start her own business selling organic vegetables, sewing saris, or supplying milk to dairy processing facilities among many other type
What is the issue, problem, or challenge?
Many rural families and communities lack banking services, possess little collateral to obtain credit, and live far from commercial centers. Women typically are heads of households as men migrate to cities or mines in search of work, but they struggle to make ends meet. With a loan at a fair interest rate and technical support she can start and scale-up income-generating activities that will support a balanced diet, schooling for her children, and eventually durable housing.
How will this project solve this problem?
1000 women will take small loans ($50 to $200) to start businesses. In conjunction with the loans, they will receive technical support on building and scaling up businesses. Groups of 10-20 women will share ideas and support each otherÃ¢â‚¬â„¢s ventures.
Potential Long Term Impact
With repayment rates routinely reaching 98% an original loan fund is Ã¢â‚¬Å“recycledÃ¢â‚¬Â yearly to new women. Wealth accumulation builds local economies. Women also discover their own potential, educate their children, and break out of dire poverty.
Total Funding Received to Date: $200
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 $200 . The original project funding goal was $100,000.