Loan Fund
You are Invited to Help Make a Difference!
Support Fondation Tabax Subë – The Council of the Obsidian West
Africa’s Fund for Micro-Business Development (FMBD)
Your Individual, Family, or Group Contribution Will Help Create a Loan Pool for Micro-Enterprise Development in Senegal, West Africa. Sponsored by The Council of the Obsidian, Inc. and Fondation Tabax Subë – The Council of the Obsidian West Africa, these Pools Support Micro-Loans that Help Small Businesses Grow, while Improving the Quality of Community Life and Strengthening Trans-Atlantic Relationships.
FACTS
The Council of the Obsidian, Inc., a 501 ( c ) 3 organization chartered in the District of Columbia, is the fiduciary for FMBD.
In Senegal, FMDB is managed by Fondation Tabax Subë –The Council of the Obsidian·West Africa, a registered Social Service Organization (fondation d’aide sociale).
Typically, a loan pool contains $500.00 to $1000.00 US.
Individual loans usually range from $100.00 to $200.00 US.
The standard loan repayment period is 4 months.
Loan recipients are operators of small informal sector businesses (e.g. tailors, carvers, shop-keepers, food sellers, transporters, etc.).
The overwhelming majority of loan recipients are women between the ages of 20 and 45.
Loan pools are capitalized by individual sponsors or sponsor groups. Sponsors receive routine updates and information regarding the progress made by their particular loan pool recipients and FMBD, in general.
Prior to the commencement of the FMBD/Loan Fund Sponsor relationship a Memorandum of Understanding stating the particulars of the arrangement is drafted and agreed upon by an authorized representative of the Council of the Obsidian, Inc. and an authorized representative of the sponsoring agent.
AN ENTREPRENEUR CAN:
Purchase a cell phone, activate service, and print business cards with a $150.00 loan.
Purchase a reconditioned sewing machine with a $200.00 loan.
Purchase a metal storefront kiosk with a $300.00 loan.
Purchase clothing for resale with a $100.00 loan.
Purchase a machine for packaging juice products with a $150.00 loan.
Purchase materials and supplies required to move the business from a day to day subsistence operation toward sustainability with a $200.00 loan.
JOIN IN TO HELP MAKE A REAL DIFFERENCE.