Program Spotlight : Microfinance
One of this year’s micro-loan recipient in front of her store.
Although it’s one of One Body One Hope's newest ministries, microfinance is also one of our fastest growing. Microfinance provides banking and low or no-interest loans to individuals or groups who don't qualify for those types of services at a traditional bank. These micro-loans are usually small amounts that have a huge impact on the individuals and businesses that receive them.
Last year, OBOH partnered with the Kendai Organization and Partners Worldwide to hand out 49 loans to people in our communities. The program began with training and education, and ended in May with a 100% repayment rate. That means our loans helped every single recipient achieve their goals! This year we have identified 79 new loan recipients and will be lending a total of $23,000. These loans are expanding into Margibi County, north of Monrovia.
More than 88% of the loans will go to empower women as they support their families, send kids to school, and put food on the table.