Two group members who qualify have already received their first round of loans. We are working with the other 4 and will be giving out their loans soon.

The possibility of creating this Credit Group and supporting the women has been possible thanks to a $500 donation from John & Elizabeth Batton in Dallas/Fort Worth, USA.

Through our innovative  and high impact Credit Groups strategies, we are libearating several rural women from the grip of poverty through micro-loans and training. If you can help or partner with us, please visit the How you can help page. Thank you.

We are currently accepting ideas on the set-up and running of the Institute. Feel free to contact us with your input.

If you wish to help with any of our Economic Development projects, please contact us.

Micro-credit is defined by the Grameen Bank as: “the extension of small loans to entrepreneurs too poor to qualify for traditional bank loans”. Micro Credit has proven to be an effective and popular measure in the ongoing struggle against poverty, enabling those without access to lending institutions to borrow and start small businesses. We provide and training, on-going management assistance, and monitoring to ensure success.

In 2006/2007, a pilot project was initiated. The project had a budget of CFA (XAF) 800,000 (US$ 1600) for a series of about 25 loans averaging CFA (XAF) 40,000. These loans were organised in two separate trust groups of people who were responsible for repayment. Out of these trust groups, one was able to pay back 91% the loans completely while the other was able to pay back 89% of the total amount loaned. The interest rate used was 14.2%, which is small in comparison to most micro credit programs. HINT uses the lowest feasible rates in order to ensure that the loans will be a means of investing in development rather than becoming a burden for the people who receive the loans.

The results of this pilot project have encouraged HINT to work on a larger micro financing project. In order to increase the scale of this project HINT wants to increase the total investment capital to CFA 2 million (US$ 4,000 or GBP 2,000) for micro financing before December 2007. We are looking for a development loan or a grant. We have put together a complete Proposal about this that discusses several options and looks at critical issues in the future and will like to share it with you at you request.

We currently support over 25 social entrepreneurs and a few outstanding onesw are shown below, most of them are in their second round of loans. This number is expected to more than double in 2008. We invite you to join us in combating poverty through micro-credits.

Download a copy of our Micro-credit Business Model (Proposal).

Our microcredit program  is oranised under Africa Rural Investment Fund (ARIF).

that could be useful for you or someone you know.

We are offering a free Business Management Training Seminar to equip
those already in business or those planning to start a business.

The 3-day seminar will start this Thursday January 8 and run from
4-6pm daily.

Phebe Etchu, an Economics student at the University of Texas, Austin,
USA will be the main presenter.

I will be presenting a special session on Project Proposal Writing
and fundraising. I have attached 2 MS Word files containing more
information and registration form.

if you can’t take advantage of this opportunity, forward this email
to someone you think will benefit from it

Seminar Documentation:

Click to download Seminar Information

Click to download Registration Form

We are happy to have ended the last sequence of the loans that were collected from HINT during which we serve close to 30 women. We are happy for all the efforts put in towards these loans and wish to congratulate you all for every contribution you made. We have now started the second round of loans. As for now 10 women from two credit groups have received the loans to the tune of 900,000 FCFA.

5 women from the Dominion Sisters Credit group received 450,000 FCFA on the 29th August 2008, while 5 from the Zion Women Credit Group received 450,000 FCFA on the 12th September 2008. After showing their gratitude and how much the last loans helped in increasing their business and family status, the second loans gradually gets them to qualify for the interest free loans from HINT.

We have 2 video clips of two women sharing their testimonies at http://www.youtube.com/hintvideos. Please check this out to hear how your donation is making is real difference in the lives of these women.

]]> http://www.hintonline.org/our-projects/economic-development/recent-economic-development-news/hint-distributes-2nd-round-of-loans-to-successful-women-entrepreneurs/feed/ 0 http://www.hintonline.org/our-projects/economic-development/recent-economic-development-news/16-people-receive-training-and-or-loans/ http://www.hintonline.org/our-projects/economic-development/recent-economic-development-news/16-people-receive-training-and-or-loans/#comments Tue, 20 Nov 2007 12:45:46 +0000 Genesis http://new.hintonline.org/?p=426 16 people including 14 women and 2 men in Ekona town received training on how to start, run, and grow small businesses for income generation.

The one-day seminar took place in Ekona at the Full Gospel Church Hall.

At the end of the training, 5 women received loans ranging from 20,000 – 75,000 Frs. The loans will enable most of them to buy in bulk, so that they can make more profit that will be used to improve their social and economic conditions.

Several other women and groups are looking up to us but we are running out of loans. We need you come in so we can help more women.

To see how you can help visit our How You Can Help page.

Go here for photos of recipients and the training.

Thank you.

Combining the business skills that HINT’s Executive Director, Tinshu Genesis gathered during the Global Social Benefit Incubator (GSBI) organized by Santa Clara University in the USA in concert with the Leavey School of Business Administration in 2006, he trained the women on topics such as:

Session 1:
Choosing your business
Planning your Finances

Session 2:
Assessing Profit: Will it work?
Borrowing Money

Session 3:
Keeping Records
Expanding your Business

Go here for photos of recipients and the training.

A big thank you to Helen Savage in the UK for helping to put this training material together during her volunteer time at HINT.

The group was formed on November 3, 2007 and is made up of 5 women. Each of these women does a business of their own and qualify to receive a loan from HINT.

Group Leader: Prudencia Enow (Phone: 75932676)
Group Treasurer: Deborah Anchi
Membership Fee: 1,000Frs

Go here for photos of recipients and the training.

Ekona is a rural community with thousands of residents. About 90% of the population survives through micro-businesses.

We request that you consider making a donation that will provide more loans to more women.

To donate online, visit our online donation page or send a check to:

Hope Outreach International Ministries (Put HINT in the Memo)
10993 N Harrells Ferry Road
Baton Rouge, LA 70816-8304
Phone: (225) 272-5432
Fax: (225) 272-6805

Thank you.

The funds will be used to help rural women in and around Buea to start or grow small businesses that are the only means of livelihood for the family.

The funds were raised through 16 generous donors during the first ever Food For Funds (FFF) event that took place in Buea, Cameroon and Arlington, USA on October 14, 2007.

In the next few weeks we will give out loans of about CFA 50,000 (about US$109) each to about 20-25 people (mostly women).

Our offering basket is still open and remains open throughout. Will you consider making a donation to change a family? We very strongly encourage to take action and do something. Together, we can make a difference!

Donate online through PayPal.

Or

Write a check to: Hope Outreach International Ministries (Put HINT in the Memo)

10993 N Harrells Ferry Road – Baton Rouge,

LA 70816-8304

Phone: (225) 272-5432

Fax: (225) 272-6805

October 16 every year is World Food Day. So, FFF will be used to join the rest of world to raise awareness about the importance of food and consequences of lack of it. FFF will also be used to raise funds to help people come out of poverty through micro credit as a sure way to help them get more food on their tables.

Thank you for standing with us and wew look forward to hearing from you soon.

The excited women all gathered at HINT’s office, signed the promissory notes, and collected their loans.

Go here for photos of recipients and the training.