Project Muso's Springboard Microfinance Program fosters participants' economic self-sufficiency through training, savings, and low and no-interest loans. Supported with technical assistance and trainings, participants can grow their individual enterprises and therefore better the health and well-being of their families. Project Muso has successfully partnered with the women of Yirimadjo since February 2007 with the completion of five loan cycles.

Since its launch, the Springboard Microfinance Program has provided 912 cumulative loans to 247 women organized into 11 women's cooperatives. Each cooperative is facilitated by a local female leader who is elected by her peers as a cooperative president. The president collects repayments from each member of her group, with support from an elected secretary, treasurer, and controller and 5-7 sub-group presidents.

Each weekly payment includes a payment on the loan principal, mandatory savings, and 12% annual interest, which participants earn back given on-time repayment. Integration of structured savings provides our participants an opportunity to save money, which they collect at the end of the cycle. Groups of women who achieve perfect on-time repayment pay no interest, and can reinvest all of their earnings for the growth of their enterprises and the health of their families. Our 99.6% cumulative repayment rate is a testament to participants' commitment to the program and to the efficacy of our lending model.

In addition to the businesses started by individuals, several of PML's women's cooperatives engage in group enterprises, such as bogolan fabric production, solar-powered produce-drying, and incense making. Cooperatives who specialize in bogolan, a handmade cotton fabric traditionally dyed using organic materials like mud and leaves, design and sell clothing, handbags, and accessories that are a unique fusion of traditional and modern designs.

2007 Impact At A Glance

• 4 New Women's Cooperative Associations
• More than 100 Small Businesses Launched
• 100% Loan Repayment Rates

2010 Impact At A Glance

• 219 women worked to advance their micro-enterprises
• In February, 137 women completed their second loan cycle payment, while 95 women fully repaid their fourth loan with Project Muso
• 99.6% Cumulative Loan Repayment Rate