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GRA Fund for Microfinance |
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Microfinance - making small loans to poor families that enable them to create and maintain their own micro-enterprises - has proven to be one of the most successful approaches to sustainable poverty reduction. These loans empower borrowers - predominantly women - to create their own path out of poverty through personal initiative and the use of their own creative potential. Our Fund for Microfinance is invested in small, registered microfinance organizations that have received technology and training in computerized accounting from GRA and have proven themselves to be effective in financial management and committed to the needs of the poorest of the poor. To date, GRA has invested over $33,000 in 4 different rural East African microfinance organizations. Interest revenue derived from these investments supports our work with AIDS orphans, constituting an important source of sustainable funding. By Fall, 2007, we expect to complete a handbook titled QuickBooks for the Small African Microfinance Organization, written in conjunction with our Tanzanian partner UVIMAKI Rural Development Association. |
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Applicants for micro-finance loans
