Tom Hendrickson, Jim Christian, Klaus Schneegans and Peg Duenow are working with Rotary International and District 5960 on a Global Grant for Iringa Hope.
Tom gave an update on the program and shared that Iringa Hope is a US, non-profit corporation dedicated to raising the standard of living in rural Tanzania through small loans to farmers and shopkeepers. Rural Tanzania is one of the poorest regions in the world.
Currently the Iringa Hope team is working in 40 villages. 31 villages have established SACCO and are making loans and 10 Farmer Cooperatives.
Loans are made for income producing activities, primarily for farming or raising livestock.
The results have been dramatic! Higher family income, children able to attend school, less malnutrition and a stronger local economy.
Tom shared some basic facts about Iringa Hope members:
- Most are female heads of household
- 85% are small farmers (82% will use their loan to farm with improved seed, sprays and fertilizer.)
- 15% are owners/operators of small businesses
- Their average preloan income is $300/year
- Their incomes after getting a loan are typically $600-$1000/year
- They repay 99+% of all loans on time
- Their typical loan is $350 for 6 months.
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