To build the capacity of loan recipients by...
- Educating on finance & business management
- Providing consultancy support to expose member to new ideas for business
- Conducting training in areas of record keeping, business management, profits and losses, etc.
To establish endowment funds for church members, especially needy women and children (long term vision) by...
- Using financial gains from the projects for establishing a fund that can benefit needy church members
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Kenya has an estimated population of 30.8 million people. Estimates indicate that about 47% of Kenya’s rural population and 29% of the urban population live under conditions of absolute poverty where malnutrition and seasonal famine are not just constant fear, but a frequent reality in their lives (National Housing Population Census, 1999).
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About 56% of the population is living below the poverty line (less than $1 a day).
Services Offered
Applications are taken for loans up to KSH 50,000. There is a grace period of three months before loan repayment begins. Loans are to be repaid within a period of one year after the grace period (total 15 months). The loan interest rate is currently 10% per annum.
Management Strategy
Applicants are organized into accountability groups of five members. This approach creates a group identity in which members support each other's endeavors and hold each other accountable to payment schedules.
The program is guided by an Advisory Committee composed of competent and committed Christian experts with varied skills relevant to the project.
Sustainability
Sustainability of the project is realized through the revolving finds. The 10% interest charges help in providing capacity building for the participants.
