The aim is to provide financial lending services to people earning a low income. Financial services offered include loaning and financial training aiming at poverty reduction in rural communities where financial services are unavailable.

Goal: To strengthen and improve the economic wellbeing of rural households for sustainable livelihoods.

Objectives:

Objective 1: To promote access to savings and credit management systems among rural clients through the Village Savings and Loans Methodology.

Objective 2: To strengthen and improve enterprise management skills among rural clients through Entrepreneur Training Program

Objective 3: To increase access to finance among rural communities and working people.

Our end result is an improved economic capacity of rural households to save, borrow and invest in sustainable income generation activities so that they’re able to feed their families, provide medical care, clothing, better housing and education for the children. This can only be achieved by providing information and increasing access to affordable loans among the rural women, youth and working people who want to diversify their income sources or start small businesses thereby elevating themselves out of poverty.

Loan procedure

  1. The clients first decide the kind of loan product they intend. The client then submits the loan application to the office or appointed agent.
  2. The application is then evaluated and an assessment is done in the microfinance by the loan officer.
  3. Once an assessment is done and a go-ahead is given, the application for the loan is approved by the loans committee.
  4. After the approval of the requested amount, the funds are disbursed to the client’s bank account.

VSLA Revolving Loans Scheme

We provide microcredit services to organised groups to support them start or boost their enterprises as a group. Trainings are tailored to group goals and location. The loan period is at least 6 Months. Interest rate is 12% per cycle.

Individual or personalized loans

Under the 10 pre-determined enterprise categories, FIPA extends micro-loans to individuals who fit into the loan criterion. The loan is offered for a period not exceeding 12 months at an interest rate of 12% per annum.