Our International team offers the IMANI Marianists new avenues of opportunity through offering higher valued financing to individuals who have graduated from IMANI's vocational training program. This offering provides borrowers with more autonomy over their business operations, but also has created new jobs in the impoverished areas of Nairobi, Kenya. This economic advance is made possible through the Microlending International team's commitment to constant improvement of client-communication and innovative solution-building.
IMANI is a Marianist vocational and technical skills training school that serves over 300 young adults per year based in Nairobi, Kenya. This team of highly devoted Marianist Brothers and mentors host a Microlending program to provide financial aid to the students who have graduated from their programs. Microlending International is a segment of Flyer Consulting that specializes in the analysis and optimization of international lending programs. As partners, Microlending International and the IMANI Marianists offer higher dollar microloans from a donor-based fund at the University of Dayton. The mission of this powerful partnership is to raise the impoverished to high places by financing these fruitful, young businesses in Nairobi, Kenya.
Teresa has a knitting and dressmaking business that specializes in school uniforms, operating near the Nairobi Central business district. She received her first loan from the program in November of 2019, totally nearly $1,800, including interest. She used the whole amount to boost her stock in materials in preparation for January when students return from the December holiday and need new uniforms. Indeed, business in January was off to a quick start for Teresa and she was able to repay the loan mid month! Additionally, she was able to stock up for the next peak season and even hire two more staff members to continue expansion of her business.
TERESA WANJIKU KAMAU
Following a successful summer visit with IMANI, Microlending International felt confident in our ability to complete the initial disbursement of microloans in early October of 2019. Our team members implemented our loan review process by analyzing eight applicants from Nairobi, with business ranging from hair stylists to welders. In late November, Microlending International approved an additional five entrepreneurs, for a total of 13 approved applicants, loaning a total of $12,300.
Microlending International achieved success in utilizing our material and processes for loan disbursement and will spend 2020 evaluating and revising our loan review process to best fit the needs of the entrepreneurs and our partner. We look forward to analyzing more applicants in the spring and fall of 2020, while maintaining records of repayment patterns and methods in which to engage with denied applicants.