Microfinance

THE PROJECT

Since 2007, MHOP has offered small loans to entrepreneurial women, helping them open or expand their businesses. 124 women are chosen each year to receive loans of $70 to $105, which they repay in installments over 11 months. To date, MHOP has had 100% repayment and loans have helped women improve financial stability by increasing the size of their roadside food stand, or opening a charcoal-selling business.  

THE INNOVATION

Geographic targeting. No microfinance institution had ever opened a branch in Sourakabougou, the far northern section of Sikoro. MHOP’s program was the first to target this exceptionally poor neighborhood when we opened our microfinance center along the unpaved main road of the neighborhood.

Local leadership. Loans are evaluated by 5 members of our microfinance committee, composed of local women who know what kind of businesses will succeed in Sikoro, and who will be responsible for loan repayment.

Modern technology. The microfinance program uses a sophisticated computer database to collect real-time data on a variety of key metrics, allowing for easy program evaluation.