WDB TRUST
Microfinance Programme
The Microfinance Programme is one of the key
programmes of the WDB Trust to promote and support
financial inclusion to eradicate poverty. It provides
developmental microfinance to poor rural women to
bring them into the mainstream economy so that they
become active participants in the development of
their families and communities.
Objectives
- Provide clients with opportunities for entrepreneurship through loans that are an alternative to the destructive loans of predatory lenders.
- Instil in clients a culture of savings and individual responsibility.
- Make client worthy participants in the mainstream economy of South Africa.
Microfinance frequently asked questions
Microfinance is one of the key programmes of the WDB Trust to promote and support financial inclusion towards the eradication of poverty.
Provide microloans to women with income- generating activities (small businesses).
Women leaving in rural, peri-urban, and urban areas.
- They must be in a group of 5, not living together, know and trust each other. Live close to each other.
- Must be able to attend weekly meetings within walking distance.
- You must have a small business or intentions to start a business.
- The family income should be less than R6 685 per month.
- No collateral is required.
Our Loans start from R1000 – R8000.
27% p.a. interest rate and 3% once off Initiation fee.
You need to have an active Personal Bank Account, and it must have a positive balance.
The potential member must undergo seven days training that is offered by WDB Trust Microfinance team for free. There after do loan application. This process can take a maximum of 16 working days.
The standard repayment term is 46 weeks, payable on a weekly basis, to the WDB Bank account and submit the proof of payment. You have the right to settle your loan anytime.
WDB Trust Microfinance will write- off the outstanding balance. As we offer our loans on free collateral.
We are operating in the Thohoyandou in Limpopo. Soon we will be operating in Acornhoek Mpumalanga.