Rural Agency for Development (now part of K-Rep Bank)
Providing Capital for Disadvantaged Entrepreneurs
Fast Facts
Location:
Kenya
Sponsored by:
Sidney West
Grant Years:
2010
Category:
Job Creation
Website:
How Rural Alliance for Development (RAFODE), Now Part of K-Rep Bank, is Making a Difference
RAFODE, now part of K-Rep Bank, provides small, targeted loans to the rural poor.
Work of RAFODE, Now Part of K-Rep Bank
- After a rigorous assessment, RAFODE made small, short-cycle loans to groups of 5 applicants with personal property as collateral.
- Financial literacy training was required as part of their program.
- RAFODE’s program was successful, and was integrated with K-Rep Bank, a significant source of funding for entrepreneurial businesses in Kenya.
Initiatives Supported by Project Redwood
2010: $25,000 to expand operations and to provide capital and training to small businesses.