Archives For SME

Marcel & Jeanne

Not every small business owner aspires to build a small business empire, but Marcel Sinayobye and his wife, Jeanne Nyirangendahimana, are entrepreneurial to the core. While raising eight children, they have built more than 10 businesses throughout their community of Rusizi, Rwanda, and beyond.

And while we know this transformation won’t happen to every man or woman who receives a $48 loan, we marvel when it does.


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Pediatrician Olga Hoi examines a baby

In 2017, a Politico article titled “In Ukraine, health care is free (except when it’s not),” lamented the state of Ukraine’s “underfunded, corrupt, and inaccessible” health care system. Since then, reforms attempting to address these limitations have empowered private doctors to compete with state clinics for public funding, enhancing quality of care and patient choice.

In 2020, as the importance of health care reached a new pinnacle, HOPE Ukraine received a loan application from Olga Hoi, a young doctor who had founded her own clinic after years of service as a pediatrician in a Ukrainian state hospital. Continue Reading…

Leah Reyes

Starting out as small business owners, Leah Reyes and her husband relied on an unstable income to meet the needs of their young family. And even as they gradually grew their tricycle transport business, they could only employ a few neighbors from day to day. They needed larger loans to invest in greater community impact.

INCREDIBLE GROWTH

In 2006, Leah took her first loan from CCT (the Center for Community Transformation), HOPE’s local partner in the Philippines, to help her scale up her transportation business. Since that time, she has added a line of trucks and buses and expanded into managing a grocery store, a cooking gas business, and a large logistics operation. With later loans, she even purchased a cargo ship to transport agricultural supplies to the small island she lives on. Continue Reading…

If given the opportunity, 50% of Moldovans would leave their country to work abroad.

And many have left. Moldova’s emigration rate is the eleventh highest worldwide. Since the 1990s, a shortage of stable jobs has led thousands to move abroad in search of work, and this trend continues today: Between 2000 and 2014, the number of people who traveled abroad to find work grew from 138,000 to 341,900—a 147% increase.

To keep Moldovan workers close to home, stable jobs are critical. And for a developing economy like Moldova’s, small-and-medium-enterprises (SMEs) fill this employment gap, with 63% of employable Moldovans working for an SME. As these businesses grow, the economy adds more local jobs—and fewer people must leave their families and communities.

Yet, credit barriers prevent many small businesses with the potential to provide much-needed jobs from expanding their businesses further. That’s why Invest Credit, HOPE’s microfinance partner in Moldova, equips entrepreneurs with larger loans to help them scale their operations and reach their potential. As these two stories demonstrate, entrepreneurs like Petrov and Sergiu are tackling the challenges of poverty in their communities. Continue Reading…

Many small businesses in middle-income countries have outgrown typical microfinance loan sizes but still do not qualify for commercial lending. Stuck in the “missing middle,” these companies have great potential to provide jobs and contribute to the local economy, yet credit barriers stand in their way. Continue Reading…