Our Projects > Microloans
Siargao Masaya —
In partnership with the Idées'Elles association, Siargao Masaya has developed a microcredit program aimed at supporting communities on the island towards financial autonomy. Thus, the association allocates small loans to families to enable them to develop a professional project. Basic financial management training is also provided to beneficiaries.
How does the microloan work ?
Many people want to develop a professional project but cannot afford to finance it. These people, mostly women, have the opportunity to submit to Siargao Masaya and Idées'Elles a request for microcredit to start their business.
In order to increase the number of beneficiaries and to make them more accountable, Siargao Masaya has chosen to grant loans to groups of at least three people, each responsible for its own reimbursement. Each loan, up to PHP 75,000 (1,500 CHF or 1,300 €), is granted for a maximum duration of one year.
Interest (5% for a 3-month loan, 10% for a 6-month loan) allows the association to absorb losses in the event of non-repayment, but also to increase the available capital.
Who decides on the allocation of microloans ?
The decision to grant the loan is rigorously evaluated by the two associations in charge of the project: Siargao Masaya and Idées'Elles.
Once the viability and relevance of the project are confirmed, the project is then validated and a variable interest loan is granted to the applicant.
What support for beneficiaries?
In order to give the beneficiaries every chance as possible to launch their project, Siargao Masaya organizes for each of them a training in finance and management.
They have then all the cards in their hands to develop their business. Once the loan is repaid, they have the opportunity to apply for a new loan to further develop their project.
How to support the development of microloan?
Finding financing for the development of microloans and enabling local communities to develop their business is a real challenge for Siargao Masaya.
If you would like to help us support the local people towards autonomy by concretizing their project, do not hesitate to make a donation to the association!
You also have the possibility to make a donation to finance a microcredit project in Siargao by making it directly on the website of the Idées'Elles association at the following address: http://www.idees-elles.ch.
Microloans in a few numbers
Since its creation in 2010, the association has supported some 20 micro-credit projects whithout interest in the fields of tourism and local trade.
In 2014, only 4 loans could be awarded due to lack of funds available. Indeed, the difficulty of obtaining funds and granting interest-free micro-loans made our commitment very difficult. If the association is able to provide the funds needed for access to education, resources are lacking for microcredit financing, while requests are legion.
Thanks to our partnership with Idea's Elles, we were able to continue this program. In 2015, 15 groups benefited from a loan. In 2017, 26 groups were supported, enabling 85 people to be accompanied in the creation of their project.