It is with sadness that the project has been put on hold due to personal difficulties that one of the Networkers is facingfrom hospital treatment and high levels of unreliability of repaying the loans from 3 Networkers. The micro-loans are provided by Sinapi Aba Trust in Ghana who are aware of the situation.
Two of the networkers have run away and as Project Leader, I took personal responsibility to repay their loans from my small salary from my church office where I work. Every Thursday, I chase the Networkers at their respective homes to collect their repayment money then forward it to the loan officer from Sinapi Aba Trust.
The method of collecting the repayment of micro-loans is under urgent review and the micro-loans provided to defaulting group members have been suspended. The project will prepare more stringent loan contracts that participants must sign, the vetting process for the participants will be reviewed and changed to account for stricter background checks. We have been fortunate to have a volunteer Development Manager to help the project to work on this.
Do you have experience of providing micro-loans in a community? We would appreciate sharing learning with you. Contact me at email@example.com
Thank you for bearing with us during this time.
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