Andono was the first person helped in Sue’s micro-loan project about 8 years ago (there are now more than 1,000 beneficiaries). He was a street boy with nothing so she gave a loan of 50 ETB ($2.50) for a shoe shine kit. After the 50 Birr was payed back he qualified for a loan for 100 ETB. After that was paid back he qualified for a loan of 500 ETB and he started a chicken business, then sheep with 1,000 ETB loan, then a hand-pulled cart with 3,000 ETB and then Motorcycle Cart with 10,000 ETB. Wtih his multiple businesses and income he now owns his own house and land.
There’s a secret I’ll share as to why it works and there is 100% repayment unless someone dies and it requires little management. I’ll save that for another day.
To learn more about the New Hope Project visit their project page here.