Impacting Lives Through Micro-Loans and Education
Updated: Mar 12, 2022
Each year, we give out micro-loans to women from the communities surrounding the CORM Children’s Village. Many women who receive loans have children who attend Faith Roots International Academy. Most of their children are a part of our CORM Child Champion program and receive monthly sponsorship for their education, lunch, and transportation.
This year we are excited to have our most extensive group of women receiving micro-loans with 12 women, each receiving a 1000GHC interest-free loan. The loan process isn’t simple. The women come to the CORM office and fill out an application, and then our social workers conduct a home visit. Once we have decided who we will be giving the loans to, the women have to commit to attending a three-day training, create a business plan and budget, and then make a monthly commitment to participate in an afternoon class and make their loan payment.
We look forward to what the ladies will accomplish with their loans this year. Most of the ladies who received loans sell a specific food item or run a small store. Others will use the funds to help them purchase needed items and seeds for farming. One thing is for sure the women are hard workers and great caregivers and providers for their families. We are privileged to walk a part of their journey with them.
The CORM Impact One Department (our social work team) has done a fantastic job assessing the micro-loan recipients and preparing them to expand their businesses. We look forward to sharing the ladies’ success stories with you in the coming months!