Savings and Loans

Entrepreneurship + Opportunity = Success for Abraham in Sierra Leone

Before becoming a Private Service Provider (PSP), Abraham, now with FRB's Sierra Leone-Koinadugu program, was unemployed and did not have enough money to pay for his school fees. When he went home to visit his family on holiday, he heard of a CRS program training individuals to become experts in Savings and Internal Lending Communities(SILC) methodology. Immediately, Abraham recognized this as a great opportunity and enrolled himself in the training program. Four years later, he is a stand-out among his PSP peers and is recognized as CRS’s most successful PSP to date,as evidenced by his new motorbike.

09/27/2013 | Comments: 0 | Add Comment | Read More

SILC Allows Pa Alie to Open Shop and Open Possibilities in Sierra Leone

Three years ago Alie Bangura, known locally as Pa Alie, was a subsistence farmer and a driver on the side. His fields were unproductive, his family undernourished, and his children uneducated. To make matters worse, when Pa Alie’s vehicle broke down, he could not afford to repair it and therefore lost his job as a driver. Today, however, Pa Alie is a business owner and respected chairman of his SILC (savings and internal loan club)group as part of FRB's Sierra Leone-Koinadugu program.

09/18/2013 | Comments: 0 | Add Comment | Read More

In Uganda, program farmers are well on their way to food security

One farmer’s story

Emmanuel, 47, is now closer to food security for his family thanks to context appropriate ag training and a loan of plant materials from the FRB-supported Uganda-Teso food security program. With the farming technologies he’s learned, he’s produced enough cassava and groundnuts to sell.

07/08/2013 | Comments: 0 | Add Comment | Read More

Sirah saves money to start a small business in Sierra Leone

Sirah is one of the most respected farmers in her community today due to her hard work, ingenuity, and how she’s managed the money she’s saved through her SILC (Savings and Internal Lending Community) group. SILCs are supported by Foods Resource Bank’s Sierra Leone-Koinadugu program to enable and encourage farmers to save money for agricultural inputs and starting small businesses.

06/17/2013 | Comments: 0 | Add Comment | Read More

In Malawi, Self-help Group Members Set an Example for Others

A successful and socially conscious Savings and Internal Lending Community (SILC) in FRB’s Malawi-Kasungu-Mzimba program has used its emergency social fund to cheer the sick at a local hospital and health center.

All SILCs set aside a portion of the interest earned from loans for a “social fund” to cover members’ emergencies like illness, funerals, and calamities. This particular SILC had been fortunate enough not to have needed to use its fund, and the amount kept growing. Considering what to do with the money, the group decided to share the bounty at an area hospital and a health center with special donations.

05/22/2013 | Comments: 0 | Add Comment | Read More

Community Savings and Loan groups work to improve local bridge in Sierra Leone

A community-rehabilitated bridge in the Koinadugu community of Sierra Leone has become a “bridge to the future.” The new bridge is an example of how, when people from local Savings and Internal Lending Communities (SILCs) contribute money and labor to improve their village’s infrastructure, everyone benefits.

01/30/2013 | Comments: 0 | Add Comment | Read More
Syndicate content