This program is a convenient and easy financing mechanism to empower those with no capital.
We work with local organizations in order to form partnerships for achieving the program’s goal.
Aimed at improving schools infrastructure.In Eastern DR Congo most schools are in very poor conditions.
Our Products
The In-Kind Loan Program (ILP): This program is a convenient and easy financing mechanism to enable poor men and women with no capital to build up working capital by selling goods mostly used clothing that they take on loan from this program. This is a Group Loan ( 5 to 10 members) with the group as the only callateral required.
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a ‘group guarantee’ (sometimes called ‘joint liability’). Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.
The Cash Loan Program(CLP): This program started since November 2009. In this program, clients will form self-selected groups ranging from five to ten individuals and then attend a one to two hour lecture on Pro-Microfinance International’s rules and procedures. Once this training is complete, members will become able to borrow. Neither formal collateral nor a credit history is a prerequisite to qualify for a loan. Loan terms will range from 1 to 6 months and loan amounts will begin at USD 20, and increase based on the repayment performance of the entrepreneurs.
The Organizational Loan Program (OLP): Pro-Microfinance International works with local organizations in the area of its operations in order to form partnerships for achieving the program’s goal. (photo ADL) Loans at lower interest rates than the formal banking system offered to local initiatives such agricultural cooperatives, schools,… In this way Pro-Microfinance amplifies the message of other grassroots social programs in its area of operations.
Rotating Credit for Schools (RCS): Aimed at improving schools infrastructure.In Eastern DR Congo most schools are in very poor conditions. Armed conflict, poverty, natural disasters coupled with government negligence have undermined efforts to deliver basic services such as education in both rural and urban areas. The absence of proper infrastructure for education to keep up with the population increase is obvious and lead to an unsafe environment of overcrowded and dilapidated class rooms. Some of these schools are little more than dangerous ruins with crumbling walls, unsafe and leaking roofs, earthen flooring and no access to proper toilet. This program focused on assisting communities build /rehabilitate such schools progressively to a safe and basic operational standard in terms of classrooms and sanitation (toilet). The reimbursement of the loan is done progressively from school fee.
The Employer-Guaranteed Loan Program or Salary Loan Program (EGLP or SLP)): This loan product is design for the low wage earners to enable them purchase Household assets and smoothen their cash flows or who wish to engage in a family business activity/agricultural activity or respond to a social event like son or daughter’s wedding etc.
Quick processing
Flexible repayment period up to 18 months
Easy fixed monthly installments
Savings Deposits: Pro-Microfinance offers its client’s savings account since February 2011. This is an account where the customer’s deposits their savings for a certain period of time subject to non regular withdrawals..
Benefits
Account can be pledged for loans
