Micro Credit
Pa Sorie Kargbo Foundation was founded in 2006 on a basic fundamental belief: providing small loans to the poor has the ability to transform whole community in a sustainable manner. The Foundation microcredit program serves as a catalyst for economic development and promoting and empowering poor people who are unbanked. The individuals we served have no access to critical financial tools that facilitate growth en route for better, more resilient and empowered lives.
Our goal is meeting the needs of unbanked poor people thereby providing access to small loans and make possible full involvement in their local economy. Research has shown that over 3 billion people live on less than $2.50 per day. They survive with no basic financial opportunities that allow the same growth toward living improved lives.
The Foundation’s microcredit overall goal is to promote income-generating activities and encourage saving among the world poorest people (According to UN Index 2007) through small loans delivery system.
Objectives:
- Mobilize and organize poor residents in Bumbuna into groups to pool their resources for the common good.
- Impress upon group members the importance of creating their group’s weekly savings
- Ensure regular meetings of the groups
- Empower poor residents socially and economically, especially women and girls
- Ensure utilization of microcredit support to group members