Ever since 1992, Sophia has been operating an agriculture (crop) business. In particular, she purchases and sells crops for a profit. She works at her business 9-12 hours per day and 6 days per week. At present, Sophia currently earns approximately $110 per month from her business operations. She is now requesting a loan in the amount of $775 to purchase crops in bulk for her business. In the future, she plans to expand her business to a new location. Sophia thanks you for your support!
SELFINA has been a pioneer of micro-credit in Tanzania through micro-leasing, which helps to achieve the economic and social emancipation of women in Tanzania. You see, customs and traditions in Tanzania normally make it difficult for women to own land and assets. Because they lack tangible assets that can serve as collateral, women in Tanzania are not considered credit-worthy by financial institutions. As a result, low income women in Tanzania typically receive poor financial support; further, such women only have limited access to basic needs and services. SELFINA engages in the economic empowerment of women in Tanzania when it buys and leases equipment to women through an arrangement called a sale and leaseback transaction. More specifically, when a client needs working capital, SELFINA buys equipment from said client, extends a loan to her to facilitate the transaction, and then leases the equipment back to her. One of the primary advantages of micro-leasing is that is allows clients to use the equipment as collateral for future loans with SELFINA, thus enabling them to borrow larger sums in the future.
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