Story

We will provide small loans in 2 municipalities in Zamboanga del Norte to help beneficiaries establish or expand small businesses. WAND will be mentored by TCP Global, pro-bono consultants with 15 years of experience building sustainable micro-loan programs. After the initial funds are invested twice, assuming a repayment rate of at least 95%, the program will qualify for additional installments until the permanent loan pool reaches full capacity and the fund will revolve in the community.

Impact

Using the TCP Global model and mentored by pro bono TCP Global team, this $1500 investment is expected to fund short-term micro-loans which will be a first step towards building a sustainable loan pool sufficient to meet micro-loan needs of the community. Successful loan recipients will be invited to help mentor new borrowers and assist with administration of the program thus creating a sense of ownership and facilitating sustainability.

Challenge

Marginalized micro-entrepreneurs, particularly in small communities, often have no source for the loans they need to expand their businesses other than daily lenders who sometimes charge up to 10% interest per month or even higher. Traditional lenders typically require collateral and are not interested in micro-loans. Businesses on the lowest rung of the economic ladder have very few sources for small, low interest loans.

Organizer

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