Mambo from Dar es Salaam! This is 43 year-old Lucy A.. She is married with 5 children, aged 7,14,17,20, and 25. In 2001 Lucy established a clothing business. Lucy has already received and successfully repaid two loans from SELFINA, and now requires a loan of $450 in order to purchase additional stocks of clothing. 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".