After receiving their loans, the clients get a one-week grace period to apply the funds to their businesses (by purchasing more inventory, diversifying stock, renting more retail space, etc). Reimbursement meetings start two weeks after the original disbursal, allowing time for the infusion of capital to bear fruit for the entrepreneur in the form of increased profits. From that point on, clients meet every week for the remainder of the four-month loan period. Community banks come together for an hour and a half to make repayments, receive business training rooted in scripture, share concerns and seek counsel, and pray and fellowship with one another. Continue Reading…
Archives For Staff / Travels
Becky Svendsen
By Becky Svendsen
News Staff / TravelsI’m pleased to introduce HOPE Congo’s pioneering community banks! On May 10, HOPE Congo’s first loans went out to fifty Congolese men and women seeking to improve and expand their small businesses. The clients formed two community banks of 25 – one group named itself “Ebenezer” and the second “The Good Seed.” Continue Reading…
Becky Svendsen
By Becky Svendsen
Staff / TravelsSo first things first. My name is Becky, and I work for HOPE International’s Central Service Unit as a grant writer. Part of my job is to serve as a go-between bridging the informational gap between HOPE supporters (typically in the U.S.) and HOPE’s 14 international microenterprise development programs – including the 270,000+ entrepreneurs HOPE serves. On a daily basis, I find myself doing some pretty cool things – interviewing interesting field staffers, researching living conditions, answering donors’ questions, and learning about and describing the inner mechanics of microfinance institutions and the challenges our staff and clients face. I love my job! But the thing is…I do all of these things from the gray stillness of my very American cubicle in a very American office in Lancaster, Pennsylvania. Continue Reading…
Becky Svendsen
Becky Svendsen
Staff / TravelsGreetings friends!
I’m so excited to finally be able to write my first post from Brazzaville, the capital of the Republic of Congo! Before I left, I had originally intended to introduce myself to you over the blogosphere, provide some background on the HOPE Congo program and why I’m here, and give you a bit of a travelogue for my flights to Brazza. But honestly, right now, my mind is racing with the sights, smells and sounds of Brazzaville’s largest market, le Marche Total. Specifically, I can’t stop thinking about the entrepreneurs I met there who recently became clients of HOPE Congo, HOPE’s newest microfinance institution that launched its first loans a week ago. These clients were vivacious and confident, knowledgeable about their business, excited to be a part of HOPE Congo, and full of hope and ambition for the future. I just wanted to let you know that I’ve arrived safely, and I’ve found that HOPE Congo is already impacting families in Brazzaville in powerful ways. More to come as the adventure unfolds!
Chris Horst
By Chris Horst
Staff / TravelsI love online banking and e-commerce. I love the convenience of checking account balances, making transfers, and purchasing products in sweatpants from my living room. I’ve quickly become accustomed to the ease of doing business from home, although this luxury is unique to the past decade. It’s easy to forget that just ten years ago online banking was nothing but a dream.
Last month I visited HOPE’s work in the Dominican Republic. There, I had the privilege of meeting our clients, seeing their businesses and soaking in the culture of a country I have come to love. One of the questions I asked to a few of the community banks (groups of 15-30 clients) was “Why HOPE? Why did you choose to become a HOPE client?” Time and time again, in different communities throughout the country, our clients responded, “Because HOPE came to us.” Continue Reading…