womens empowerment Program
According to the World Bank a quarter of the world’s population of people living with hunger lives in Africa. In Zambia 60% of women live in extreme poverty with the highest rates affecting female headed households. This has led to hunger, malnourishment, sex work and other illicit behaviors to sustain their life. While access to funding to provide start-up capital for micro businesses that generate income can greatly reduce the women’s exposure to chronic poverty.
Immara Hope Foundation; provides collateral free low interest group guaranteed microloans, loans with simplified paper work and affordable loan processing fees. The Foundation makes collateral free loans at risk-adjusted market rates of $20 to $45 dollars at interest rates of 30-35% and fees of 0.8 cents charged on each loan. The loan duration is 8 weeks.
All customers require a co-signer and character references for loan approval, creating a circle of trust for lenders. We have a unique repayment strategy; which allows women to pay a $1 dollar on a daily basis, reducing stress that comes when repaying the loan monthly. This leaves customers with enough capital to run their business. This strategy has helped as to attain market positioning.