MicroLoan Foundation was established in 2002 in Malawi with the aim of providing microfinance to women who were unable to access the financial services required to grow their small but successful businesses. MicroLoan Foundation’s business training and loan model has resulted in very high loan repayment rates and allowed the organisation to expand to 20 branches across Malawi.
In 2008, the Foundation provided MicroLoan Foundation with a grant of £100,000 to establish two new branch offices in the eastern province of Zambia which will provide loans and small business training to groups of women. These entrepreneurs will use the loans to sustainably grow their businesses, taking out increasingly large loans as their business requires. After four years loan repayment rates are expected to reach 97% which, together with affordable interest rates, should allow the operation to become financially sustainable.
www.microloanfoundation.org.uk |