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Over 6,000 small loans distributed, ranging from £20 - £170
99.99% full repayment
50% income increase in only 6 months
Fully sustainable, after each loan is repaid it is redistributed to another individual
Empowers women to have financial independence, increasing confidence
Small Loans are microfinance loans distributed to members of the community, through our partners, The Hoja Project in Tanzania and Viagenco in Kenya. The loans are of between £20 and £175 and are repaid over a period of 6 months.
Since the first loans were distributed in 2007, over 6,000 have been distributed. It is estimated that recipients see an increase in income of 50% in the first six months, and this figure continues to grow with their businesses.
Businesses are diverse in nature but similar in success! The success of businesses owes a lot to the training offered to those seeking loans prior to writing business proposals. Businesses so far have included restaurants serving local Tanzanian food, such as ugali (maize porridge) and mandazi (doughnuts made from rice) and shops selling convenience items.
Entrepreneurs use the enhanced income from their businesses to enroll their children in school, as well as to meet the needs of their family. Many also reinvest in their business to make it bigger and better!