We provide micro-loans and micro-leasing to women from the communities of El Hoyo and Monte Verde to empower them as small business owners.
Within these communities, it is unlikely for a woman to qualify for a loan from a bank because of their gender and/or social status. Because of this inequality, women are less likely to find a path to become financially independent. Vida Plena has been able to meet that need by offering micro-loans and micro-leasing.
This type of lease is a legal contractual agreement between Vida Plena and a person allowing the use of equipment (such as a sewing machine, oven, air compressor, etc.) in exchange for specified periodic payments. Once the payments are complete, the person will own the equipment. In simple terms, it is a “rent to own” contract for an item that will ideally help that person launch their own successful in-home business.
This type of loan consists of small sums of money lent at low interest to a recipient for the specific purpose of starting a new business. The Chalmers Center graciously allowed us to use their proven Christ-centered business training curriculum which has been modified specifically for Latin America. This program allows Vida Plena to empower the women we serve to thrive and start their own independent businesses.