In 2018, Project Hope launched its Microfinance Program with a simple but powerful goal: break the cycle of poverty by equipping individuals with the resources and opportunities to build sustainable livelihoods through entrepreneurship. Most of the participants in the Microfinance Program are single mothers wanting to provide a better future for their families.
To be considered for a microfinance loan, the prospective participants must complete an application and submit a business plan. They are also required to receive business and financial training from a third party or the government. Loans are set up with a tiered structure that encourages growth and personal accountability, for as participants repay each loan, they become eligible for a bigger loan, which allows them to grow their business. To further promote accountability, each participant must have a cosigner for the loan.
A Microfinance Success Story
Samrawit is with our microfinance program. Samrawit is HIV positive. When we first nominated her to enter our program, she was in debt for 20,000 birr ($500). She has two children and could not see any hope for her future. We gave her 3000 birr to open her business selling food on a crowded street. She paid it back quickly and then we gave her 5000 birr for the next stage of expanding her business. This time she became very ill because of her HIV and was in the hospital for two months. We visited her, supported her family and prayed with her. When she got out of the hospital, she said that she could not work on the street because of COVID regulations. She worked with our program and discovered she could sell more natural foods in the market in a government approved area in a safe way. Then people saw HOPE that no one expected. 
Not only did she pay back her 5000 birr loan, she also paid off her 20,000 birr debt. That is not all that happened! Within two years, she has made nearly 74,000 birr and has bought a refrigerator, which is a luxury item in the village, to use in her business. She now has a bed and furniture for her house. She said, “3000 birr has changed my life.” Now both she and daughter have found new faith and hope in God and feel they have a bright future. She never stops saying “thank you” for this microfinance program that provided her with the funds to be successful.