Microloans Funding Process
Business group expectations
- Business group of ten people are formed.
- Group must open a group bank account and start contributing to the account.
- Group will then pick out a business (s) they plan to invest the loan in and write a business plan including a budget and strategy and present to Sabu Help.
- Sabu Help reviews the business plan and gives recommendations as to whether the business plan is income generating, lucrative and environmentally beneficial or healthy.
- Group must attend and received training before funds are loan out to them.
- Goup must hold monthly meetings to report and update each other on progress on the individual businesses as well as the group’s success as a whole.
- Field director attends each meeting and serves as a communication link between the groups and Sabu Help
- Group repay loans and loan is recycled (re-loan) to other group (s)
- The principle amount can be given to the same group if they apply for funds to expand their business.