Mambo from Dar es Salaam! This is 42 year-old Erica K.. She is married with five children, aged 5,13,16,18, and 20. In 2006 Erica established a small shop selling general items, and now requires a loan of $450 in order to to purchase additional stock. She thanks you for your support.
SELFINA is engaged in economic empowerment of women in Tanzania, where customs and traditions normally make it difficult for women to own land and assets. Because they lack tangible collateral assets, women are considered not creditworthy by financial institutions. This leads to poor financial support and poor access to basic needs and services for women with low income.
SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro Leasing as a practical way to achieve economic and social emancipation of women. SELFINA buys equipment and leases it to women. When a client needs working capital, SELFINA buys equipment from her, extending her a loan, and then leases the same equipment back to her – a process called "sale and leaseback".