Savings & Loan Cycles
WEEP focusses on facilitating 4 x 3 month Buyam Sellam WEEP G7 loan cycles per year which enable members, together with their micro-savings, to buy and sell basic household goods like beans, cassava flour, peppers, rice, salt, sauces, soap, sugar, tomatoes and other small items. And, facilitating 3 Mixed Farming WEEP G7 loan cycles per year which enable members to produce and sell broiler chickens, potatoes and vegetables. The loan interest rate is currently 2% per month = 24% per year – low compared to other sources. Every member knows: a) they MUST always repay their loan principal + interest on time in full; b) if they default, 6 other Group members between them MUST make good loan repayment due to partner MFI; c) Each member is jointly and severally liable for any debt; and d) each WEEP G7 must be profitable and sustainable.