Providing Microloans for the Poor in Tanzania

 
$5,252 $0
Raised Remaining

Summary

A striking 90% of Tanzanians live on less than $2 per day and 89% are either completely excluded from the financial system or only have access to informal financial services.

What is the issue, problem, or challenge?

By gaining the funding to open this branch and later satellite branches to reach surrounding rural areas, Opportunity Tanzania will provide loans, savings and crop insurance to poor entrepreneurs. Thereby, being able to assist them in opening and expanding their own businesses, creating a sustainable and profitable living with which to support their families and create jobs for others.

How will this project solve this problem?

Opportunity currently serves 3,625 active loan clients through the Dar es Salaam region. The average client loan size is $320. Clients use this money to start or expand their businesses.

Potential Long Term Impact

By opening the bank and providing microfinancing services, poor entrepreneurs in Tanzania will have the opportunity to work their way out of poverty. The microfinancing services allow the entrepreneurs to create a better life for their families.

Funding Information

Total Funding Received to Date: $5,252

Funding Information

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 $5,252 .  The original project funding goal was $5,000.

Additional Documentation

This project has provided additional documentation in a Microsoft Word file (projdoc.doc).

Resources

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Funded

Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.

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Organization

Project Leader

Ian Haisley

Director of Online Strategy
Oak Brook, IL United States

Where is this project located?

Map of Providing Microloans for the Poor in Tanzania