By providing revolving loans to groups of women we’re helping them to become self-sufficient and independent.
Loans have been made to 6 groups and in principle work as follows.
PRF makes a “loan” (gift) to a group of women. They form their own committee and small groups of 5/6 are invited to apply for funds from the loan.
Each woman will receive about £15-25 and with this, they will set up a business which may be sewing, cooking, growing extra food, raising chickens, beekeeping etc. They sell any surplus food or goods helping them to improve the quality of life for their families.
They repay the loans, not to PRF, but to themselves, at a rate of interest which they set, usually 10/12%, over a 6 month period.
When the loan, plus interest, is repaid, the capital is then re-loaned to more women who in turn repay this, with interest.
The money continues to be loaned and repaid thus the name “Revolving Loan”. The intention is that over the years more groups and their families will benefit from these loans.
One group was initially loaned £700 and started with 30 women.
This has grown in 11 years to over £8,500 and 225 women are now receiving loans.
Another was given £400 and started with 12 women but now has £2,500 with 80 women benefiting.
These two groups use some of their profit to care for orphans in their areas.
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