Micro-finance loan update



Micro-finance loan update - Beta Charitable Trust
One of the ways that BCT provides employment support is through micro-finance loans for small businesses. Our partner on the ground in Kenya, Caring Is Sharing, provides loans to people that have or want to start small businesses.  The loans are given to entrepreneurs after successfully advancing through interviews. The business men and women are then given a 3 day training course at The Kenya Institute of Business Training to give them the best possible chance of starting and running a successful business.

The aim is to support new business and business development in line with BCT’s philosophy of supporting self sufficiency.

In 2013 and 2014 8 groups of people received loans of various quantities to help them with their businesses.  71 people in total received loans of these 37 people have fully paid their loans back. The others are in the process of paying back the remainder of theirs. Money that is paid back is then recycled back into the loan pot and so the success of one persons business enables another to start, enforcing the sustainability of business in the area. Below are some examples of people that have been given loans.

Mwajuma Ali Hamisi is a 35 year old woman who has a Bodaboda (banana selling) business. In June 2014 she was given a loan of £300 to help expand her banana business. She was successful in her aims and was able to fully pay back her loan.

Feisal Saleh Seilan is a 38 year old man, he has a small restaurant business in Nakuru and needed a warmer for us in the restaurant, this would enable him to be open more often during the colder months and also prevent damage caused by condensation and damp. A loan of just over £1000 was given to him In June 2014 and he was able to purchase the relevant equipment. He then successfully paid back the loan well within the time given.

Elisha Musungu Shiundu (pictured) is a 34 year old man who has a tree seedling nursery. He received his first loan in 2013 for £150 to start his business, purchase some seedlings and begin to advertise. This loan was successfully paid back and so when he applied for another loan to help expand his business and but a wider range of seedlings he received a further £215. This enabled Elisha to successfully grow his business and he paid back his second loan too.

These examples show how these small loans can make such a difference to people’s lives, enabling them to be successful and support their families. All monies that have been paid back have gone towards further loans and so a sustainable system has been created.