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.
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.
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.
Women will be self-reliant entrepreneurs who can will in turn be able to grow their own businesses, provide for the family and send their children to school. When they return the loan, other women will also be in position to borrow the same and the circle continues. This does not only help them but the entire community to get out of poverty over time.
