Micro-loans are used to expand weaving businesses.
MayaWorks microcredit program exists to help women who have limited access to traditional economic outlets become successful small community entrepreneurs through the management of income generating projects.
With the help of MayaWorks staff members, artisans complete a loan application that includes a simple business plan. If the project promises to generate income beyond the artisans' expenses, the loan will be approved and funds are disbursed within a few days after an initial training session. During the course of their project, artisans receive periodic site visits by the Program Coordinator to evaluate how the project is progressing. If an artisan is experiencing difficulty with the project, she will receive technical support from staff members and will be visited more often. Artisans also attend periodic trainings to expand their skills and improve their projects.
Artisans have used microloans to purchase nutritional supplements to sell in their community, build a small lumber mill, and purchase dairy cows to provide milk for their village. By far, though, the most popular income generating projects are weaving and planting cash crops. Currently, there are 14 micro-loan projects being mananged by MayaWorks artisan partners.
Micro-loans are used to plant cash crops.