Micro-Credit

The micro-credit groups are thriving, with eight active groups comprising over 260 members. Each week, members contribute small savings amounts to the group’s lending pool, which is then used to provide short-term loans to members. During informal meetings with several groups, we learned about a variety of impactful loans, including $225 for a small boat, fishing nets, and batteries; $60 to purchase fabric for a sewing business; $80 to support brick-making; $500 to expand farming activities; $500 to increase inventory for a general merchandise store; and $1,000 to grow a piggery and poultry business. Impressively, all these loans have been repaid to the lending pools. The groups expressed gratitude for the entrepreneurial training they received from Eric’s staff, which has been key to their success.