Supporting economic self-entrepreneurships
The idea of women micro-finance is simple yet empowering. Micro-finance is the extension of small loans to entrepreneurs who are too poor to qualify for traditional bank loans. The loans are typically short-term ( 12 months, six months or less), are not secured by collateral, and require repayment in weekly installments.
The starting loan extension being range of Uganda shillings 150,000/= (USD $40), 350,000Ugx (USD$100) up to 1,000,000 Ugx (USD$300). Giving individuals the opportunity to start micro-enterprises (small businesses) has proven an effective and popular measure in the ongoing struggle against poverty. Micro-finance empowers individuals to use their existing skills to create viable businesses, which allows them to improve their living standards, and ultimately benefits the entire community. Help a Needy Woman Start a Business
Ssamba Foundation’s women micro-credit program has a membership capacity of 350 women. The idea behind this project is that the members will borrow a certain portion of the money to start businesses or boost their families’ income. Once the business is underway, members will be expected to pay back the amount they initially borrowed. The money borrowed will then be reinvested in another member wishing to start a new business. The members will have approximately four months to one year to repay the money, depending on the needs of their businesses and the agreement made with Ssamba Foundation in advance of the loan.
Commitment to Social and Environmental Issues
In the entire world, not just Africa there is increasing awareness and sensitivity to the social and environmental implications of new business development. This has led to increased public pressure on projects and new businesses to demonstrate the social and environmental soundness of projects.
The focus in Ssamba Foundation’s microfinance program lies on the development of positive social impact (and identifying ways of measuring this). Nevertheless, when considering the broad spectrum of potential micro-entrepreneurs, specific social and environmental risks are not overlooked. Examples of such risks are the use of child labor, groundwater pollution by use of agrochemicals, and soil pollution by an automotive repair workshop.
Ssamba Foundation recognizes the importance and relevance of social and environmental risk management and incorporates social and environmental management in its micro finance program. In this regard, the organization is committed to identifying and addressing to the best of its ability all short, medium and long-term social and environmental risks associated with proposed Borrower/micro-entrepreneurs’ activities to the very best of our abilities. Help a Needy Woman Start a Business
How To Support the Project:
You can support this project by supporting a woman start or empower her business. You can celebrate a holiday, birthday, or “just because” by donating funds or run fundraiser for the women micro-credit program.
You can donate in honor of a loved one, memory of a loved one or celebrate the special people and events in your life by supporting our women micro-credit program in Uganda.
To support the Ssamba Foundation, which helps provide future care for all the children and vulnerable women contact directly our office in Uganda or simply Donate Here or E-mail: firstname.lastname@example.org
There are many ways to get involved with Ssamba Foundation without leaving your home country. Our office would love your help online fundraising volunteer for details on working at one of our special events or helping with numerous administrative tasks in our office. Contact us to find out how your talents can help.