Day 8 – Livelihoods Loans

Our aim for the Livelihoods project is to ensure that whole families are supported, through a sustainable income. The main way we do this is by ultimately giving out interest free loans, so they are able to start their business and over time will be in a position were they can support their own families education, medical and nutritional needs.

Livelihoods Training

We started with the parents in classes, teaching money management and basic business skills. We want to be responsible with the money we are giving as a loan, this involves teaching the women an understanding of businesses, how they can grow and be sustainable.

We then ask the women to write a business plan, describing what they want their business to be, including how much it will cost to start, keep the business going and how much profits they aim to receive each day. Our Hope for Life team then look over each business plan to see if they are realistic, or whether we can work with them on improving their plan to become more sustainable.

Livelihoods

After writing the business plan is practical workshops. Most of the women already have the skill set to start their business but we help those who don’t yet have the skills and those who want to improve.

Livelihoods mat making

After all of this previous work we will give out the loans they have requested, and we have agreed upon, in their business plan.

We gave out loans to 6 women in February 2013 and by the time we went back to Uganda to visit them in June, they were half way through the repayment of their loans; the video below is catching up with one of the women to see how their business is going, check it out… (be sure to watch it in HD and to see the children at the end)

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