Entrepreneurship

NDhope Launched Microloan Program with 50 women

Overview
The long-term goal of our micro loan program is to empower women in the village to help sustain the school.
NDHOPE works with each borrower to prepare a business plan. Even though the enterprises are very small, the plan provides a basic roadmap for the borrower to reach her economic goal. Simple marketing, business operations, and management concepts are taught and the training includes group activities that allow the women to practice techniques for promoting their businesses. Book keeping is emphasized and the lesson on "income minus expenses equals profits" usually draws applause. Our borrowers are located Mehmeh Town.
Although many women living in developing countries have operated some type of micro-business to scrape together income for their families, very few have ever heard about the benefits of record keeping. NDHOPE team will work in close contact with its borrowers through local coordinators who will visit all of the borrowers on a rotating basis. The local coordinators provide bi-weekly reports of borrowers' progress in the loan program and assists them with book keeping and solving business problems.
By developing sound financial habits and a track record of successful loan repayment, NDHOPE micro loan borrowers can graduate to dealing with traditional financial institutions that offer an array of banking services that can help stabilize the consumption curve of the poor, such as: savings accounts, personal credit, school fee loans, pension plans, and insurance. In its role as social entrepreneurs, NDHOPE is investing in human capacity building to promote sustainable economic empowerment.

Empowering Women in the village:

Empowering women through jobs has a positive, long-term impact on the whole family — their health, nutrition, housing, and education improves which helps decrease levels of poverty. Studies have shown that when women are given financial control, they invest an average of 90 percent of earned income on their families compared to men who spend about 35 percent. We are committed to seeing women reach their full potential as self-sufficient individuals using our hybrid program. Women will go through our three month training program where they can learn vocational skills like sewing, baking, agriculture and business management. Once they complete the course work , we work with local banks to help with micro loans for business and agriculture, and work with tailors to recruit women from our program. To kick off our jobs for women program, we will start by opening a bakery that will be operated by women in the village. Because of the proximity of the village, we believe more than 1400 jobs can be created, which twice numbers of women in village.