Micro-credits for Baru Island entrepreneurs

by Fundacion Hernan Echavarria Olozaga
Vetted

Summary

This project will give micro-credits to a minimum of 10 low income entrepreneurs of Baru Island, who have a business idea, experience in a activity and lack of financial support. The project objectives are to 1) identify the young entrepreneurs and 2) provide them with technical and financial support (training and credit) to improve their business and increase their only source of income.
$16,920.00
total goal
$16,257.00
remaining
3
donors
0
monthly donors
1
year active

Challenge

Cartagena is the second poorest city in Colombia. (Study "Poverty in Cartagena: A neighborhood analysis", Center for Regional Economic Studies (CEER) Cartagena, 2007). Over 75% of its population is below the poverty line. Ararca, Santa Ana and Baru, the 3 towns located in the Island of Baru, despite being located in a great potential touristic area, are one of the poorest sectors of the city with the highest levels of poverty and unemployment.

Solution

The project will provide the technical and financial support (training and credit) the entrepreneurs need to improve their business and therefore to increase their families only source of income. By growing their businesses they also provide jobs to other members of their community.

Long-Term Impact

The project will give young entrepreneurs the tools they need to increase their income and to create new jobs and therefore to improve the community`s quality of life.

Additional Documentation

This project has provided additional documentation in a PDF file (projdoc.pdf).

Resources

http:/​/​www.fundacionhernanechavarria.org.co
The Hernan Echavarria Foundation website

Organization Information

Fundacion Hernan Echavarria Olozaga

Location: Bogota, Cundinamarca - Colombia
Website: http:/​/​www.fundacionhernanechavarria.org.co
Project Leader:
Ana Milena Ordosgoitia
Bogota, Cundinamarca Colombia
$663 raised of $16,920 goal
 
28 donations
$16,257 to go
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