Microfinance loans – Success with small loans!

Microfinance loans – Success with small loans!

With HIFA microfinance loans, women can operate a market stall at the local market, or women and men can receive start-up capital from us for equipment and tools to start a small craft business.

It is important to us that no interest is charged to the borrowers. We only charge a processing fee of 1% of the outstanding amount.

We started in 2009 with a start-up capital of €6,000 for the granting of small and micro loans to a group of women in Imo State and to a group of women and men in Cross River State.

Many applicants have already received a loan from the repayments. Some received a second loan to further expand their business after successfully repaying the first loan.

We have successfully distributed over €10,000 as start-up capital to 53 applicants from Imo State, Abia State, Edo State and Cross River State.

As this project is running so well, we would like to ask for additional start-up capital of €10,000.