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 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).
Entrepreneur's Name: Eni Josophine Akon
Business Kind: Tailoring & Designing
Business Description: Dress-making, dress-designing, sale of clothes...
Location: Muyuka, South West Province, Cameroon
Loan Amount from HNT: CFA (XAF) 50,000 on February 4, 2007
Loan Status: Repaying
Brief History: Eni is the first of 4 children and faces the challenge of caring for her juniors. She want to grow and expand her tailoring and design shop so that it will become a training school for other seamstresses.Without the loan from Helps International I will never be where I am today, able to help myself and help my little ones.
You can support Eni with a loan or a grant so she can grow her business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
Entrepreneur's Name: Linda Ayuk Orogo
Business Kind: Restaurant
Business Description: Sale of cooked food.
Location: Owe, Muyuka, South West Province, Cameroon
Loan Amount from HNT: 40,000 on February 4, 2007
Loan Status: Repaying
Brief History: Linda is married to Mr. Orogo who is unemployed and does odd jobs (in addition to assisting Linda at the restaurant) for them to be able to live. For the past 4 years, the restaurant that she runs is their main source of income. The loan she had from HINT brought about a complete turn around for her business as she noticed increased profits and more customers since she could serve additional dishes.
You can support Linda with a loan or a grant so she can grow her business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
Entrepreneur's Name: Ayuk Lucas Ojong
Business Kind: Motorcycle spare parts
Business Description: purchase and sale of motorcycle spare parts
Location: Muyuka, Cameroon
Loan Amount from HNT: CFA (XAF) 50,000 on February 4, 2007
Loan Status: Repaying
Brief History: Ayuk was born on January 22, 1976 and was not fortunate to go any further than First School Leaving Certificate (FSLC) in his education. To be able to live, Ayuk buys and sells motorcycle spare parts. He has been in this business for 3 years now and was lucky to have been granted a loan by HINT.
You can support this entrepreneur with a loan or a grant so he can grow his business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
Entrepreneur's Name: David Akpan Itah
Business Kind: Cold Store
Business Description: Sale of fresh fish and chicken for meat
Location: Muyuka, South West Province, Cameroon
Loan Amount from HNT: CFA (XAF) 45,000 on February 4, 2007
Loan Status: Repaying
Brief History: The only boy in his family, David has the challenge of helping his juniors attend school as well as caring for their health and daily living. The HINT loan brought about a huge increase in business because he could buy more fish and make more profit.
You can support David with a loan or a grant so he can grow his business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
Entrepreneur's Name: Prudencia Eno
Business Kind: Farming
Business Description: Production and sale of Cassava, Maize, Okro, and groundnuts
Location: Muyuka, South West Province, Cameroon
Loan Amount from HNT: CFA (XAF) 75,000 on June 15, 2006
Loan Status: Repaying.
Brief History: Prudencia is married to Mr. Enow and they have three children-1 girl and 2 boys. Prudencia and her husband both depend on farming to support themselves and their children. The loan from HINT was a huge relieve to us and has helped to grow our farming. We were able to purchase more farming tools and pesticides and this improved our yield tremendously. We are grateful to HINT.
You can support Prudencia with a loan or a grant so she can grow her business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
Entrepreneur's Name: Katty Oumaru
Business Kind: Water Fufu
Business Description: Sale of fresh Water Fufu. Water Fufu is made out of fermented cassava and is a delicacy in most parts of the South West Province of Cameroon, especially when eaten with "Eru".
Location: Wotolo, Buea
Loan Amount from HNT: CFA (XAF) 50,000 on February 4, 2007
Loan Status: Still repaying.
Brief History: Mama Katty is 57 years old and a widow. She was among the very first group with which we experimented the micro-loans project and she proved to b very faithful with her first CFA 25,000 loan. She is now on her second loan from HINT
Uneducated with 4 children(2 uneducated), it was a huge nightmare taking care of these chidren untill she came in touch with HINT. Now they have more food on their table and the children can attend school without being driven for fees or book
You can Katty entrepreneur with a loan or a grant so she can grow her business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
Entrepreneur's Name: Ngwa Patrick
Business Kind: Sale of Used Textbooks
Business Description: Patrick sells used texbooks for primary and secondary schools. This is quite a profitable business because most parents are not able to buy new textbooks for their children as they are very expensive.
Location: Muea, Buea
Loan Amount from HNT: 55,000 on February 4, 2007
Loan Status: Repaying
Brief History: Patrick is an orphan who does not know where hiws actual parents are. He grew up the the HOTPEC orphanage at Mile 15, Buea. The best he has come to know is that his parents are somewhere in Gabon , a story he is not sure about. He is one our newest clients and thought he had a little problem for the first 3 weeks, he has regained himself and resumed his regular weekly payments.
You can support Patrick with a loan or a grant so he can grow his business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
Entrepreneur's Name: Nkumbe Maurice Epunge
Business Kind: Sale of Palm Oil
Business Description: Hardly can a Cameoonian cook food without Palm Oil. It is commonly used in most (if not all) homes in Cameroon.
Location: Muyuka
Loan Amount from HNT: 50,000 on June 15, 2007
Loan Status: Repaying
Brief History: Maurice is married with 6 children, they typical case for a real African. Maurice's oil business is the only source of livelihood for him, and his family. He is in his seconf loan from HINT having faithfully repaid the first within six months.
You can support Maurice with a loan or a grant so he can grow his business or give so another entrepreneur can start a business. You can give online or make a bank transfer or write a check. Just contact us us to let us know how you can help.
If you are an individual or group and would like to apply for a Micro-credit loan, please contact us.