How Heart for 100 Works
A Focus on Accountability…
Meeting weekly, small groups learn basic business skills. As each loan is paid back, the business owner’s confidence grows, and the money recycles to fund additional loans.
Our program is simple but thorough
Under the able direction of Jack Wanjare, head of the Microfinance Enterprise Development Department (MEDD), small groups of about twelve people – primarily women – come together to support each other. Each person presents to the group the type of business she or he wants to start.
With training on the basics of building and operating a business, individuals may apply for their first loan. Each person applying must save 20% of the total amount of the loan before the loan is granted.
Weekly meetings are key to success
The group meets on a weekly basis, with a designated leader and treasurer to report progress, receive input and accept loan payments. Groups are trained to own joint responsibility for loans that are taken by individuals. The group is liable for repayment on behalf of any member who defaults on their loan, so weekly accountability and support is invaluable.
Once the loan is repaid and that accomplishment is celebrated, loan recipients may apply for additional loans in gradually larger amounts. And with the program’s track record of success, additional groups are always forming to apply for first time loans. It’s a cycle of Inspiration, Education and Empowerment that is proven to work.
When you give $100, you fund much more than a single loan. You’re empowering someone to change their life and their community.