Microfinance

In January 2008 a small band of Christians with Rejoice and Hope Ministries International (RHMi), motivated to help those living in poverty, helped form Self-Reliance International. SRi was organized as a licensed Non-Governmental Organization in Tanzania, East Africa. RHMi’s mission is to provide Christ-centered microfinance services through SRi to poor entrepreneurs so they can develop profitable businesses to sustain their families and glorify God. RHMi acts as the fund developers and advisors.

Here’s how we work

Formation of Trust Groups

  • Small loans, usually $100-125, are made to 20-30 people who are selected to form a Trust Group. Payable in 6-9 month terms, loan amounts can gradually increase to $500.
  • Group members guarantee each others payments
  • Member savings is encouraged
  • Interest rates help provide funds for the next loan cycle and helps cover administrative cost
  • Weekly meetings are held with the loan officer
  • Biblical worldview business training is provided
  • Large business conferences are sponsored

Assurance of Accountability
Adhering to our policy of total transparency, each month a copy of the bank statement is sent to the US Advisory team and the funds are reconciled to the cash flow forecast. Constant mentoring and teaching is part of the monthly process.

Here’s our vision of sustainable impact

As of August, 2011 there are eight groups of over 200 entrepreneurs-over 70% women-with a total loan portfolio of $46,000 US. The group members have saved over $2,500 US.

Our goal is to add two additional new groups in 2011 and four in 2012.

Funding these six additional groups will yield a sustainable portfolio so that SRi is covering all operating expenses and yielding sufficient funds to grow the ministry.

US Senior Advisors

Rodney Cook Owner Cook Construction Company and has been involved in ministry in Tanzania for four years.

Bob Quinn Former UPS Regional Finance and Accounting executive that has been involved in microfinance ministries for three years and serving in Tanzania for two years.