CEP’s core microfinance program offers its clients two savings products and two loan products, which due to the high level of poverty among clients are used for income-generation. The two loan products differ primarily with respect to the frequency of loan repayments and are hence designated as ... Read more
CEP’s core microfinance program offers its clients two savings products and two loan products, which due to the high level of poverty among clients are used for income-generation. The two loan products differ primarily with respect to the frequency of loan repayments and are hence designated as weekly and monthly. The weekly loan product is targeted at unsalaried labourers with variable and infrequent incomes and the monthly loan product at workers who receive a monthly salary, but are in need of further income to supplement their salaries. Each of these loan products provides clients with capital to invest in a micro-enterprise that in turn enables the client to improve their well-being by facilitating sustainable increases in household income. CEP also offers two additional loan products, a housing improvement loan and a small business loan, but these products constitute only a very small part of CEP’s loan portfolio and are tied to specific projects.
CEP provides the following financial products:
• Two basic income generating loan products: a weekly loan; and a monthly loan.
• Two savings products: compulsory savings tied to CEP credit; and a voluntary savings product.
• A housing improvement loan.
• A small business loan for the development of small enterprises operated by low-income households.
In addition, CEP provides the following non-financial services, which are intended to enhance the impact of CEP’s microfinance program on reducing client poverty:
• Dissemination of educational materials on individual and community health and sanitation.
• Financial education training to CEP clients, focusing on budgeting and saving.
• Education scholarships to the children of clients at risk of leaving school before the age of 15.
• Livelihood development programs for clients unable to meet their basic needs.
• Provision of housing for clients that do not have access to adequate shelter.
• Immediate financial assistance to clients experiencing difficulties. This includes assistance to clients and their immediate families to pay for emergency medical treatment and funeral costs.
• Provision of basic foods and goods. This consists of the provision of packages of rice, cooking oil and other basic necessities for client families. Hide