giving totals

Total funding goal: $1,525

Total funding to date: $1,525

Remaining goal: $0

Total Donors: 2

DiscoverHope Fund

DiscoverHope creates dignified solutions for women in poverty through our Microcredit Plus Model. By combining loans with learning, we provide access to credit as well as access to knowledge. www.lendhope.org

www.lendhope.org

Project start date: 03/23/2012

Project completion date: 12/31/2012

Latest project status



Milestone Objective

Date: 08/07/2012

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2012 objectives include increasing the number of village banks by 25% (from 21 to 26 village banks) and increasing educational training opportunities by 30% (a total 425 classroom educational opportunities, including business classes in Hope House and in community). 

 

UPDATE ON VILLAGE BANK FORMATION:  We are on target toView More

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General Status Update

Date: 07/20/2012

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Microcredit PLUS Training



Cajamarca, Peru

Since 2008, DiscoverHope has provided 717 loans. We have funded over 1,800 development trainings related to business assistance, literacy, computer, and artisan skills. Through our Microcredit PLUS model, the lives of over 400 women and 1,500 family members have been permanently transformed for the better. In 2011 alone, we doubled in size! We now have 21 village banks serving 216 families, and we provided 725 classes, workshops and individual coaching sessions, far surpassing our original goal of 300. All while maintaining our unprecedented 100% loan payback rate. This project would continue to provide a range of trainings to these women over the course of the next year that would be organized by our on-site program manager, indigenous staff and teachers. DiscoverHope is building a family of inspired people who seek to give their greatest strengths to the world. We are transforming hundreds of families out of poverty and there are hundreds waiting, with hope in their hearts. With your help, DiscoverHope can continue building a legacy of hope for all. For more information, visit www.lendhope.org





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Where this project is located

Info about Peru


Peru, the fourth most populous country in South America, is bordered by Ecuador and Colombia, Bolivia, Chile, and the Pacific Ocean. With 29 million inhabitants, 76 percent live in urban areas. The largest city is Lima, home to more than 8 million people. The World Bank Group notes that Peru has a poverty rate of 51 percent, with 18 percent living on less than $1 a day and 37 percent living on less than $2 a day. UNICEF reports that the average annual income per capita is $2,360. Learn more about Cajamarca, Peru at http://www.lendhope.org/what-we-do/where-we-work

Project Milestones

Providing microcredit for women has proven to be a vital tool for alleviating poverty.  The Microcredit Summit Campaign explains that women are often responsible for the upbringing of the world's children; the worldwide goal is to ensure that 175 million of the world's poorest families receive credit for self-employment by 2015. Women manage household finances in most of the developing world; as more cash and assets get into the hands of women, most of these earnings get into the mouths, medicine, and schoolbooks of their children (www.microcreditsummit.org).

Project timeline/Intended Impacts: 

  • Increase the number of village banks by 25% in 2012 - add 5 additional Village Banks, maintaining a total of 26 banks through their ongoing loan cycles. 
  • Increase educational opportunities by 30% in 2012 - Provide a total of 425 classroom educational opportunities, including business classes in HopeHouse and in the community.  Offer regular opportunities for one-on-one business assistance consulting. 
  • Track number/type of trainings and participants
  • Generate and track new income and savings based on knowledge learned in classes
  • Send children to school due to increased income
  • Engender savings for family needs: business, education, health 
  • Gather and report qualitative feedback.  
  • Maintain our unprecedented 100% loan payback rate

For evaluation example, see our 2011 Annual Report at http://www.lendhope.org/what-we-do/2011-annual-report



Background

The Peruvian women we serve are supporting their families on roughly $2 (rural) to $7 (urban) per day. A typical woman entering our program has three or more children, supports a household of five or more, has no bank account, no savings for emergencies, and has a rudimentary education at best.  Our unique microcredit PLUS model combines loans with learning.  Women form groups called village banks and receive small individual loans (of about $150) to start and grow their own businesses. Our affordable education empowers smarter business decisions, problem solving and innovation.  Together, the combination of loans and learning allows women to achieve success.

ISSUE #1: Lack of Seed Money
In Peru, as in many countries, women without a credit history or collateral cannot get loans through traditional financial institutions.  Options available to them are generally limited to extremely high interest rates, perpetuating an inescapable cycle of debt.

THE SOLUTION: Our Microcredit Model
DiscoverHope provides individual microloans of about $150 to groups of women who form “village banks.” Rather than offering collateral, we use a system of solidarity lending by which members guarantee or “back” each other. Village banks are democratic and autonomous with members electing officers, ratifying by-laws, maintaining bookkeeping and solving problems internally.  Each member also participates in a savings program to be used in case of family or business emergencies. Each woman’s income is reinvested back into her business and family, thus breaking the vicious cycle of poverty.

ISSUE #2: Lack of Education
A loan, by itself, does not equate success. A woman living in the Peruvian countryside may have success in growing fresh vegetables from the microloan she received. However, if she cannot count money when selling her produce in the marketplace, she will not succeed. A first time loan recipient needs support to properly spend her loan, manage monthly loan payments, and contribute to her savings while mitigating barriers she will encounter along the way. DiscoverHope provides the necessary tools to knock down those barriers to her success.

THE SOLUTION: Our Microcredit PLUS Model
In DiscoverHope’s unique Microcredit PLUS model, the “PLUS” is education. By combining loans with learning, women play an active role in their abundance. Our affordable education empowers smarter business decisions, problem solving and innovation. Due to wide ranging educational levels, teaching techniques include games, role play, and picture learning. For each class, the women pay half the cost of their instructional materials while DiscoverHope covers the rest of materials, instructors, and childcare costs. The hand UP mentality is a crucial component of our model. We believe that if a woman invests in herself, she will value that investment and nurture it even more.

To learn more about our MicroCredit PLUS model, visit http://discoverhopefund.org/what-we-do/our-goals

Our 2011 Annual Report can be viewed at  http://www.lendhope.org/what-we-do/2011-annual-report


More Information

HopeHouse Curriculum

HopeHouse is our women’s development center near the town square in Cajamarca, Peru. Our affordable classes teach skills to strengthen existing businesses or provide ideas to start a secondary income generating activity. (Particularly for those women engaged in seasonal businesses, we encourage a second activity to provide year round stable income.) HopeHouse is a vibrant central learning space with ten experienced, popular team instructors. HopeHouse offerings range from very basic to advanced. Our Basic Literacy program (now in its fourth year), continues to meet growing demand. We offer classroom education on reading, writing, and arithmetic. Many village banks also create “literacy circles” in order to continue their studies as a group. In 2011, we again offered basic and advanced computer courses, including a first time advanced Excel course. Graduates of our computer programs receive a DiscoverHope certificate – a well respected credential. For members in remote villages, attending HopeHouse classes is a challenge due to travel time and expense. In 2011, DiscoverHope expanded our curriculum to bring HopeHouse into rural communities through our two most popular classes: Crochet/Knitting and Business Assistance.

The 2011 Results:

  • 781 educational opportunities, a 140% increase from prior year.
  • New skills resulted in a 53% increase in additional earnings and an increase in
  • savings of 119%
  • 141 members now crochet for sale or for family use
  • 262 personalized business consultations
  • Basic Literacy students raised their scores from 74% to 91% by their final exams
  • Cost per training reduced 35% from $23 to $15