Since 2005, Atuganile has been operating a cosmetics shop. Specifically, she purchases cosmetics at wholesale prices and then sells the cosmetics at retail prices for a profit. She works at the business 9-12 hours per day, 7 days per week, and she is assisted by one employee. Atuganile currently earns approximately $200 per month. She is requesting a loan in the amount of $625 in order to purchase a large quantity of cosmetics for her business. In the future, she plans to start a new business. Atuganile thanks you for your support!
SELFINA is engaged in the economic empowerment of women in Tanzania through the provision of a leasing and leaseback micro-finance facility. Customs and traditions in Tanzania normally make it difficult for women to own land and assets, thus they are not considered to be credit-worthy by financial institutions because they lack tangible assets that can serve as collateral. As such, low income women in Tanzania typically receive poor financial support and in turn only limited access to basic needs and services. Fortunately, SELFINA has been a pioneer of micro-credit in Tanzania through micro-leasing to achieve the economic and social emancipation of women in Tanzania. Simply put, SELFINA 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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