Empowerment of marginal farmers especially the youth by implementing an integrated program of water, agro-forestry, health and sanitation support, nutrition and community organizing. Capacity-building, local leadership development and gender and development cuts across our initiatives. Our main goal is for these families to live dignified lives, fully participating in the life of the community by improving their overall social and economic situation.
Marginalized micro-entrepreneurs, particularly in small communities, often have no source for the loans they need to expand their businesses other than daily lenders who sometimes charge up to 10% interest per month or even higher. Traditional lenders typically require collateral and are not interested in micro-loans. Businesses on the lowest rung of the economic ladder have very few sources for small, low interest loans.
We will provide initial loans to clients already known to our organization who have experience in the business for which they seek a loan. These clients already have a trust relationship with us which makes these small loans a good credit risk. Before receiving a loan, borrowers will learn that their compliance with the loan repayment terms will help to build a permanent loan resource for their community. The initial fund will then revolve and expand in the community.
Using the TCP Global model and mentored by pro bono TCP Global team, this $1500 investment is expected to fund short-term micro-loans which will be a first step towards building a sustainable loan pool sufficient to meet micro-loan needs of the community. Successful loan recipients will be invited to help mentor new borrowers and assist with administration of the program thus creating a sense of ownership and facilitating sustainability.