New Area of Focus! Microfinance!
New Area of Focus! Microfinance!
Thanks for stopping by!
We have some exciting news, in October 2020, 1Heart1Mind started a micro-finance business, Zion Microfinance. This means we now have 4 different areas of focus, the latest being access to affordable micro-finance. We aim to promote financial inclusivity for women and small businesses through affordable lending products and training. Due to the lack of a credit system, high risk in lending, difficulty in establishing credit and extremely high cost of borrowing capital, access to affordable capital to grow a small business can be difficult or even impossible.
The benefits of micro-finance extend beyond the direct effects of providing a source for capital. Entrepreneurs who create successful businesses, in turn, create jobs, trade, and overall economic improvement within a community. One of Zion Microfinance’s main goals is to help poor, vulnerable, small business owners, groups and especially women entrepreneurs in Eastern Uganda who otherwise would have no other access to financial service, to start businesses.
During the last year we have averaged 18 new loans a month. Our team has worked so hard the last year to grow Zion Microfinance and help as many people as possible. We are so proud of them and can’t wait to see the impact they will continue to have!
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