Español
Help support families by attending the Cause For Hope Golf Classic - July 31st, 2012 at Wasatch Park State Golf Club in Midway, Utah - With Honorary Chairman Billy Capser - Space is limited and spots will go fast - Register Today!

  Small Business Training
  Vocational Loans
Economic Development
  English Language Classes
  Computer Classes
  Job Placement
Microcredit Loans
  Missionary Assistance
Microcredit
Microcredit, or peer-group lending, has each member of a borrowing group guarantee the other group members' loans. Risk and cost reduction innovations have enabled microcredit programs to be successfully used in developing countries for many years. One of Cause for Hope's first microcredit relationships was with the Foundation for International Community Assistance ("FINCA").  The foundation also works with other established and reputable local lending organizations, offering similar microcredit programs. Microcredit is offered to community residents based upon need, using proven microcredit principles. Loans are for micro-enterprise development and are not for general or personal purposes.

Success Stories

Name: Hugo S. Valle
          Chinandega, Nicaragua  

Help received: I repair motorcycles but did not have the resources to expand my tiny business. Cause For Hope trained and encouraged me with small business programs and granted me a microloan.
 
Temporal Impact: I used to make $150 a month, now I am making $400 a month. As soon as my business grows more, I will teach someone else how to replicate my business. 

 


Name: Jairo Chavarría
           Masaya, Nicaragua  

Help received: I make all kinds of shoes. Cause for Hope trained me and loaned me the money to expand my business.
 
Temporal Impact: I used to make $375 a month and had $100 savings. Now I make $650 a month and have $250 in savings. I now have six employees, and 90% of my shoes go to Costa Rica and Panama.


Name: Lino R. Herradora
          Chichigalpa, Chinandega-Nicaragua
 

Help received: My business is to repair refrigerators. I needed a loan to buy more equipment to repair the refrigerators easier and faster. I attended the different workshops that CFH offers like the Small Business Program and CFH loaned me the needed money.
 

Temporal Impact: Thanks to the support and training of Cause for Hope, I have increased my income from $160 to $500 monthly.
 

 


Name: The Martinez Velazquez family
           La Verde, Las Palmas-Retalhuleu, Guatemala
 

Help received: Celso Martínez has a Welding Workshop, in which the family has worked together. Mr. Martínez did not have the tools and necessary materials to expand his business and increase his income. CFH helped the Martínez family with the business training course, mentoring, and a microcredit loan to obtain materials and tools to expand their business.
 

Temporal Impact: Celso was making $180 a month. Right now he is making $367 a month. Not only has he doubled his income, but he has hired two more people and become a source of employment for others.
 

 


Name: Sully de Almazán
           La Esperanza, Quetzaltenango-Guatemala
 

Help received: In 2008, Sully studied at INTECAP, a government vocational school and took a culinary art course to become an international chef. She started a catering business and was seeking alternatives to expand her business. Cause for Hope taught her the Self-Employment Workshop, and the 5 Steps to Success (5 Ps). Sully received her first microcredit loan to purchase a 7-cubic foot freezer. This freezer helps her greatly to preserve and store the food and condiments she often uses in the events she caters. Recently, Cause for Hope granted her a second microloan to purchase an industrial oven, which allows her to cook food more efficiently.

Temporal Impact: Before Sully was trained by Cause For Hope, she made $300 a month and had three helpers and zero money in savings. Now she makes $700 a month, has ten helpers, and $450 in a savings account. She is providing employment to others.
 

 


Name: Patricia Estrada
          Chichigalpa, Chinandega Stake Nicaragua

Help received: Patricia owns business of selling frozen chickens from home, funded by a microcredit loan from CFH. She buys chickens wholesale and sells frozen chicken to the people of Chichigalpa, her small village near Chinandega, Nicaragua.  Patricia is also a graduate of CFH’s MicroPlan (Business Skill Training), which has helped her run her small business.

Temporal Impact: She is able to buy and freeze up to 200 lbs. of chicken at a time and generally sells her inventory within a few days. The chicken business helped her to save enough money to start a second business with her husband, a Cyber Cafe with international calls, internet, fax, scanner, copies, etc. Before CFH assisted her, she had no income and no savings.  Now she makes $400 a month & has $125 in savings. She is grateful to Cause for Hope for helping her family become more self-reliant.

 


 

Village Bank in San Lorenzo (located next to Choluteca, Honduras)

  The microcredit loans come from local banks and other funding organizations. CFH facilitates these microcredit loans by helping residents with microcredit loan guarantees. Often times, to collateralized the loans, a group of people who work together will mutually guarantee one another's loans to complete the necessary paperwork to receive the loan. This also helps the residents monitor one another's progress.

 

Name:                 Luis Aguiluz
City:                       Managua, Nicaragua

Help Received: Luis Aguiluz, is a systems engineer, a year ago lost his job, regardless of his ​​many efforts to get another job, it was impossible. In Nicaragua there is a 62% unemployment rate.  He found out about the Foundation and took the MEN workshop (Business Improvement).  He had $1,100.00 in savings and with the loan of a family member opened his hamburger and soda business, his wife helps him run the business.

Temporal Impact: His revenues were $ 100, now his income is $ 450 and his savings are $1,300. This business allows him to continue to study his new career in business administration, the principles learned in the Foundation have helped his family become self-reliant.


Name: Edwin Alvarado
         Choluteca, Honduras

Help received:  Microcredit loans, Small Business Training, and Micro Plan training course

Temporal Impact: From small stall to city-wide distributor Edwin, pictured here with Dan Gifford, Chairman of Cause for Hope, is the candy man of Choluteca, Honduras. He has gone from selling candy in a small open air market stall to becoming a regional candy distributor. He has a fine retail store, and a wholesale distribution business as seen here, with a warehouse in a location around the corner. He sells hundreds of cases of candy each day to local candy sellers throughout the city. He attributes his success to all that he has learned from the small business training programs of Cause for Hope. "I can negotiate better, get better prices, and sell more," he says. "My wife and I want to grow and grow our regional business." Edwin now serves in Choluteca on CFH's local Board of Directors.

Stay Connected: