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Micro loan program

This program empowers the guardians who are taking care of orphans and vulnerable children and already have small business to access credit with no security and at a very low interest. The interest earned also goes back to the guardians in form of training which is done quarterly. This program started in the month of March 2011 through a grant from one of our partners GNU foundation.  It started with only 5 members, currently the program has 62 guardians which translate to 62 households of about 7 members each. The main objective of the program is to empower the family and improve the quality of life of the orphan and vulnerable child in the household. Some of the businesses they operate include selling vegetables, small scale farming, kiosk and rearing chicken for sale.

Micro credit is the extension of very small loans (micro-loans) to the guardians in the program who typically lack collateral, steady employment and a verifiable credit history. It is designed not only to support entrepreneurship and alleviate poverty, but also in many cases to empower women, who are the majority in the program and uplift entire communities by extension. In the program operational area communities, women lack the highly stable employment histories that traditional lenders tend to require. Many are illiterate, therefore unable to complete paperwork, which very big businesses require to get conventional loans. WWN I.O.C micro-loan provides a wider range of services to the guardians, this include encouraging on savings, lending to the guardians, group meetings which serve as a platform to share business ideas and enhancement of cohesion among the members. Since the inception of the micro loan program most of the members have managed to register for National Health Insurance Fund which has enabled them acquire affordable health for themselves and their families. 

How you can help

  • Increasing the loan capital fund to incorporate more guardians in the program and also the members to be able to apply for bigger loans
  • Give start up loans for the guardians who want to start a business and they lack the capital to start.

 

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