Start Up Loans for Women in Uganda
Supporting an entrepreneur by providing the seed money for a loan allows her the opportunity to create a sustainable source of income. We have watched entrepreneurs transform their family's lives with the success of their small businesses. When the women pay back the loan to Project Have Hope, the money is then loaned to another woman to invest in her business initiative. Your donation will continue to make an impact for years to come.
Capital investment is needed to create even the smallest business. For most of the women in the Acholi Quarter of Uganda, traditional bank loans are unattainable. Without collateral and often, with limited education, these women are denied the opportunities to become entrepreneurs and thus, to become breadwinners.
Project Have Hope has changed that. We began offering interest-free loans to our members in 2007. Loans were initially small - ranging from $150 to $300. Over time, the loans have increased to $300 to $1,500 to better serve members’ needs.
Loan recipients use the funds to start viable small businesses. Animal husbandry, including raising pigs and chickens, has proven to be a viable business initiative. Other women have used loans to brew the local beer and set up neighborhood bars, build a water kiosk, import charcoal from the North to sell locally, and purchase a boda boda - moped taxi, a common means of transportation.
Graduates of vocational training programs receive loans to buy sewing and knitting machines, set up restaurants and open beauty salons. With their newly acquired skills and capital, these women now have the means to transform their lives. The loans are only limited by the entrepreneurial spirit of the women.
By the end of 2011, 100 loans were given to women in the Acholi Quarter of Uganda to support their business initiatives.
Last Updated (Tuesday, 04 December 2012 01:42)