Creating a Loan Fund for 50 Women in Zimbabwe

by Credit Against Poverty (CAP)

Summary

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.
$5,485
total raised
14
donors
0
monthly donors
13
years active

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.

Solution

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.

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.

Additional Documentation

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

Resources

http:/​/​www.idex.org/​partner.php?partner_id=7

Organization Information

Credit Against Poverty (CAP)

Location: Masvingo - Zimbabwe
Website: http:/​/​www.idex.org/​partner.php?partner_id=7

Funded Project!

Thanks to 14 donors like you, a total of $5,485 was raised for this project on GlobalGiving. 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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