WHAT IS a business loan
A business loan is financial capital of about $50-$250 provided to the caregivers of our sponsored children so they can launch or expand businesses by means of purchasing assets, buying supplies in bulk, improving inventory, or investing in improvements.
WHY HAVE LOANS?
Family preservation and economic empowerment are undeniably linked. The economic instability of poverty leads to unstable families and dependency.
The main reason for a child joining BFR is due to economic struggles to take care of basic needs such as food, clothing, education, or health care. This is largely due to no fault of our caregivers and largely due to long-lasting and debilitating effects of the genocide, lack of proper secondary or even primary education, poor saving strategies, and many other complex factors.
Best Family desires to be about more than just meeting basic needs for kids. We want to empower and equip caregivers to be financially stable enough to meet these needs on their own. Our goal is to move beyond charity and into development, where we invest in Rwanda’s future generation.
how it works
We desire to empower the caregiver with capital for starting a small business by providing a 1-year interest-free loan to help generate income. The end goal is to increase capacity and decrease dependency. Our Business Loan Manager walks through the process with them from beginning to end, starting with business strategy at the start of the loan application.
A savings group is a collective of individuals who save their money together. As they build a secure sum of money, members often take out loans from their group to pay for household expenses or invest in businesses. The caregiver must be part of one of the established sector savings groups while maintaining consistent attendance and contributing regularly.
Creating an avenue towards financial independence for our caregivers has an immediate benefit for our children and a generational impact for years to come.
BY THE NUMBERS
TOTAL LOANED ($)
AVERAGE LOAN ($)
Economic empowerment not only gives the men and women that raise our kiddos more income, but it opens up the door for dignity to be restored, value to be recognized, stronger families to be built, and improved quality of life.
LET US HEAR FROM YOU
We are here for you and are happy to answer any questions you have about the business loan program! Fill out the form and we’ll get back to you really fast.