Microenterprise |
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Unlike many other microenterprise programs, IMIFAP programs first focus on providing impoverished people with the health and life skills necessary to take charge of their lives. After solidifying this basis, we provide training in the practical skills needed for successful community banks and small-scale businesses. Our participants organize themselves into community banks; with IMIFAP funding and support, they provide loans to viable local entrepreneurs. Borrowers pay back the loans with interest, which continually generate more capital for the bank. More than 130 community banks have developed as a result of our microfinance program, and 1,364 women have created microbusinesses. Our results have found that the loan return rate among these projects is nearly 100 percent. One-and-a-half years into the projects, all businesses are self-sustaining, a third have hired paid employees, and half provide the women owners with a salary.
Learn more about our microenterpise workshop for rural women.
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Temas
