Micro Loans to rebuild lives in Eastern D.R. Congo

In the Democratic Republic of the Congo, the vast majority- some estimated 99% (ADB, 2013)- of the population remains without access to formal financial services. Yet this doesn’t mean that people don’t save and borrow when they can.

 Large personal costs, like school fees, weddings, and birthday parties call for putting aside a little at a time, and, when costs become higher than what’s been put aside, going to the local “mutuality”. Mutualities are common across countries with high rates of informal transactions. They serve as a collection point for neighbors and colleagues who want to save together, and as a helping hand to those who need to borrow. In some cases, even borrowed sums can turn into charitable contributions, recognizing that not everyone can bear the burden of credit sometimes.

 Pro-Microfinance serves as a gateway service for mutuality users to formal financial services. For many of our users, Pro-Microfinance is the first formal account they’ve ever had.  And this is a big deal. Savers can finally rest assured that their savings are secure, accessible, and well accounted for. And Pro-Microfinance won’t make a loan unless the user can demonstrate how they will generate the repayment, or who will guarantee it. And this can mean all the difference between being in the green, versus feeling indebted to your neighbors and colleagues.

 Because banks in the area where Pro-microfinance operate charge up to $5 a month in maintenance fees, many of our users, who make less than this in a day, may be lifelong members of Pro-microfinance. By donating to us, you can ensure that we cover our administrative charges, and yet retain the same accessibility as a neighborhood-level organization. We're willing to put in the extra effort to work with small-scale vendors, and we look forward to what we can do together.