Economic Growth Colombia Project #24628

Empower Entrepreneurs Throughout Colombia

by Opportunity International

Project Report | Apr 20, 2018
Opportunity in Colombia

By Katie Morgan | Online Marketing Specialist

Claudia - a Trust Group Leader

Opportunity International helps entrepreneurs in Colombia grow their businesses by providing them with small loans so they can invest in much-needed inventory or equipment, savings accounts so they can securely store their hard-earned income, and training in important skills, such as financial literacy and business management, to help them wisely invest in their business and sustainably increase their income. In impoverished communities, when one entrepreneur succeeds, it launches ripples of prosperity throughout the community – jobs are created, incomes rise, and more families break the cycle of poverty.

Your support for Colombian families is more important than ever. After 50 years of conflict, an estimated 7 million Colombians have been displaced, and thousands of ex-combatants are reintegrating into society as civilians. Securing good economic and educational opportunities for all is critical for peace, and to lift more of the most vulnerable families out of poverty. Opportunity is working to serve as many clients as possible in Colombia but due to the limited availability of capital, hundreds are still waiting for loans. Your support will be immediately put to work to accelerate lending to entrepreneurs, providing them with the chance to rebuild and improve their lives.

Opportunity’s services help clients transform all aspects of their lives – economic, personal, social, and spiritual. In Colombia, Opportunity works through our two local entities: our banking institution OICCF (Opportunity International Colombia S.A. Compañía de Financiamiento), and our partner NGO AGAPE, which delivers the training and support programs to help clients sustainably grow their businesses, strengthen their families, and improve their overall well-being. Opportunity supports entrepreneurs through Financial Services.

Opportunity provides clients with a range of financial services to help them build successful businesses, improve their incomes, send their children to school, and improve their homes:

Trust Group loans are an essential starting point for many clients who have very little or no collateral to qualify for a traditional loan. Within Trust Groups, members mutually guarantee each other’s loans in lieu of collateral and meet weekly for training, repayment, and support as they learn to wisely invest their loans, and earn a sustainable income.
Education loans provide parents with the capital they need to afford the up-front costs to send all their children to school. Opportunity also offers loans to help local educators grow and improve their local schools, such as building additional classrooms or gender-separated bathrooms.
Home Improvement loans help families invest in their homes and improve the living conditions of the poorest populations in Colombia. Opportunity trains its staff to support clients and ensure they do not become over-indebted, providing technical assistance throughout the construction process.
Savings accounts offer clients a safe place to keep and grow their hard-earned income, which is especially vital for women to gain financial security and economic empowerment. Savings accounts enable clients to manage future costs, including school fees or household improvements and build safety nets to pay for unexpected expenses, such as healthcare or medicine, without negatively affecting their everyday business or family needs.

Student at Nueva Esperanza School

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Jan 19, 2018
Goals in Colombia for 2018 and Beyond

By Katie Morgan | Online Marketing Specialist

Girasoles Trust Group

As Colombia transitions into a new era of peace, Opportunity is focused on expanding economic and educational opportunities to ensure all families can work toward a more productive and hopeful future. Over the next year, Opportunity aims to:

Expand outreach to women entrepreneurs living in violence-affected areas
Opportunity is expanding our outreach to two new areas, Caucasia and Carmen de Bolívar, both of which are rural areas that have been affected by violence. Opportunity will target women entrepreneurs, who often have some of the most pressing financial needs, to provide them with loans and hands-on training to help them build businesses and bring more economic opportunities to their underserved communities.

Equip Trust Group Leaders to be change agents in their communities
Opportunity is deepening the trainings all Trust Group Leaders receive, which helps them become a valuable source of knowledge and support for their community members. Trust Group Leaders receive training to encourage honest and effective Trust Group management and repayment, as well as training in client protection principles, including how to safeguard personal information and what insurance resources are available for clients. With greater confidence and skills, Trust Group Leaders become important agents of change for their communities.

Improve ‘Community Mother’ households
As more parents find employment, daycares and schools are still too sparse, especially in rural areas. To address this challenge, the Colombian government is growing its “Community Mother” program, which provides supplemental income to individuals who open their homes as daycares, providing parents with a safe place to send their children while they are at work. Opportunity provides Community Mothers with loans and guidance to invest in improvements to their homes (such as bigger kitchens, or more beds for children) to help them provide better care for children in their communities.

Support community-led projects to solve local issues
Opportunity Trust Groups, because they are made up of local mothers and fathers from the same community, often dream of solutions to the biggest challenges they face. Opportunity partners with Trust Groups to help them invest in community-wide initiatives, such as installing wells or building recreation centers, just as the Girasoles Trust Group rallied together to build a community center. It was completed last year and now serves as a school and an open space for neighborhood activities. The women of this trust group are now forces of change in their community, creating ripples of opportunity for their children and their neighbors to build a more hopeful future together.

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Oct 24, 2017
Meet Delia - A Clothing Shop Owner

By Katie Morgan | Online Marketing Specialist

There is nothing in this world that doting, single mom Delia loves more than her two boys, four-year-old Brian and eight-year-old Sebastian. A resourceful entrepreneur, she works hard to capitalize on the opportunities she accesses through Opportunity International to positively impact her sons, friends, and community. “I live to help people achieve a better life than I had - Opportunity helps me improve my life and enrich the lives of those I love.” She single-handedly recruited most of the entrepreneurs in her Trust Group.

Delia has invested four Opportunity loans averaging $200 since 2013. In addition to expanding her business, she accessed two Roof and Floor loans, making much-needed renovations including a toilet to make her home safer and healthier for her boys. Since adding display cases to her shop, where she sells accessories and Avon products, Delia says her customers take her more seriously. Business also picked up when Delia diversified her product offering to include unique handcrafted clothing.

Delia says, “The loans have helped, but truly, it’s more than just the loans – it is so much more than I ever expected.” Today, Delia is equipped to sustain and grow her business with the knowledge she gains through leadership and business skills training delivered by her Opportunity loan officer. “My heart is overwhelmed with gratitude and appreciation for the social, economic and educational opportunities I access through Opportunity. My community status improved dramatically as I overhauled my business and renovated my home. I am proud of the home I provide for my boys; I no longer hang my head in shame. I have within myself all that I need to be a provider. I just needed a little help.”

Delia’s dreams for herself and her children are within reach because of her thriving business and steady income. “My dream is to move to a safer neighborhood in the future. I want to provide my children with a fulfilling life; I dream of them one-day attending university. I am so thankful for Opportunity. Having hope in my life is worth more than a million loans. I pray Opportunity stays here forever so my children’s children can give their families a better life just like I have.”

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