💲 Microloan Program 💲

Microloan Program

The Friends-Together Microloan Program helps local entrepreneurs to start or grow small businesses, support their families, and invest in their children’s education. Managed by TAFCOM and guided by our social workers, each loan is carefully monitored to maximize its impact.

How It Works

Loan Amount: $100 per entrepreneur
Repayment: 21 weeks, with the option to pay sooner if the business is ready
Interest Rate: 5%, which helps sustain the fund and provide future loans

Who Can Benefit

Microloans mainly support entrepreneurs in small businesses such as:

Food vending
Selling second-hand clothes and shoes
Fruits and vegetable sales
Firewood or cooking charcoal
Tailoring

Most of our clients are non-professionals who use these loans to start or grow modest businesses that make a meaningful difference in daily life.

Social Worker Support: Beyond the Loan

Our social workers provide weekly guidance, helping each entrepreneur not only access funds but also learn how to run a successful business. They assist with:

Tracking loan repayments and business progress
Budgeting and managing income and expenses
Finding the right price for products and services
Choosing products and managing inventory

This mentorship turns a microloan from a one-time boost into a lasting opportunity for financial independence and business growth.

What Microloans Make Possible

A $100 loan helps an entrepreneur start or grow a small business that generates income over time. Through that income, they are able to:

Pay school fees for children
Cover rent, food, medicines, and basic household needs
Start or expand a small business that generates income for the family

Repayment and Sustainability

Repayments help sustain the microloan fund and allow more entrepreneurs to benefit. Currently, 97 entrepreneurs are on the waiting list. Your support can help them launch new ventures, gain vital business skills, and improve their families’ lives.

“Microloans don’t just fund a business — they teach skills, build confidence, and invest in the future of entire families.”