Help women create their own small business
Access to micro credit helps women set up small businesses. They are very creative in this. They will keep sheep or goats, make shea butter, beer and pies, and sell all of that at the market. Or for example, they will buy 5 kg of salt and sell it in small quantities at the market.
One of ASAP’s principles is that credit should not be free. For projects that have to do with production or trade that are expected to generate extra revenue, we set up loans. The amount depends on the type of activity.
What does the project entail?
Around 2.700 women now have access to an average credit of 30 euro each. This credit is offered for one year, at an interest rate of 7%.
Women’s associations in the villages make a list of women who are eligible for a micro credit loan. They divide the money amongst themselves and make sure that the loans will be repaid.
What are the results?
With a 30 euro loan, a woman can generate an annual income of 60 to 100 euros.
She will use this extra income mainly to send her children to school and for medical expenses. Since the start of this program in 2003, ASAP has scored a repayment rate of 100%!
More and more women start small businesses that allow them to provide for their children on their own. We are extremely proud of this!
How much does it cost?
30 euros per participant. The women pay this amount (plus 7% interest) back to the ASAP Foundation with the income generated by their small business. With this money, ASAP offers new micro credit loans.