This project is providing microloans to rural women businesses in Uganda, last year GlobalGiving donors supported 4 struggling groups with micro loans to boost their businesses, Mountains of Hope has empowered them to start small businesses and create a better life for their families, This micro project will support 5 other groups with interest free micro loans this year to enable them expand their businesses, each of these groups has a membership of 28 women.
Over 100 women living in Rural areas struggle to provide for the family especially single mothers and widows . These women only depend on subsistence farming which is not sufficient to support their families. We hope to support them to create and operate their own small enterprises. Without assets and referrals, these women cannot obtain credit from banks.This project is supporting farming projects like piggery and poultry projects, it is also supporting women to make hand crafts
The project provides interest-free loans of $350 to women groups to use to start their own small business. It also facilitates quarterly borrower training and support meetings with the beneficiaries. Once loans are repaid, they are recycled to become another loan.
These women have undergone a business skills training that enabled them identify the kind of business each of them can do best and the ones they can do as a group, the training also touched on the areas of financial management and book keeping, these women were also trained on establishment & management of Village Savings and Loans Associations, we also facilitated the associations with tool kits (saving box and savings tracking books) as well as training to enable them run professionally