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The mission of the Foundation for Women is to continually support and encourage impoverished women, both globally and locally, by funding and creating microfinance programs.
The Foundation for Women is a proven expert in microcredit and related services, having funded and created programs locally and globally for more than 15 years, as well as being part of the global network of thousands of microcredit organizations. FFW has designed an evolving model that combines the proven approach of education and training, loan availability and ongoing personal and professional support in a community-based group setting to help a borrower improve her chances for success. Loans are paid back over a 25-week period; each payment is divided among principal, service fee (10% of the loan total) and a $5 deposit to savings.Specialized training is in development to better serve the individual needs of women, whether they prefer pursuing job training, supplementing income with a small home-based business or pursuing an all-out entrepreneurial path. Beginning in May 2012, FFW borrowers will receive this upgraded training at each of the 14 SDMP loan centers. Following this 8-week general training, they will be paired with a Mentor and will begin more specialized training on one of the tracks indicated above. Mentors will play a key role in encouraging women to work toward self-sufficiency, connecting them with services and supports they may require along the way, and sharing their own personal and professional triumphs as a source of inspiration.
- Julie Rice
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