Microfinance

ASPI provides loans to communities and individuals in Ghana that do not have access to traditional banking resources need to sustain their businesses and sustain their livelihood. Unlike like the majority of local microfinance organizations, ASPI takes a holistic approach to lending by providing group loans to whole communities and providing financial education and business counseling to their clients.

A Holistic Model

ASPI administers “micro” loans to the working poor in support of their small scale enterprise and business operations. This hard-to-reach population of petty traders forms the backbone of daily economic activity in Ghana, yet it is often denied access to financial services at larger banking institutions.

ASPI goes into the field to serve the working poor in their own communities, providing small, manageable loans and a reliable network of support. In this way, clients successfully grow their businesses, repay their loans, and achieve financial self-sustainability.

Collective Responsibility

ASPI employs the group loan methodology to empower individuals that lack collateral securities or savings to take loans through a larger group. A majority of ASPI group loans are distributed by leaders in faith based communities to encourage collective responsibility. Additionally, ASPI employees trusted members of the community as credit officers. The credit officers are provided with financial and business training so they can help the micro-loan recipients run more successful and responsible businesses. Being part of the community, credit officers are also in a uniquely effective position to collect loan repayments and resolve disputes.

The Loan Process Works

INDIVIDUAL ASSESSMENT
A group applies for a loan and then ASPI team completes a full assessment of each individual in the group, including a site visit, a full business assessment, credit history review and referral interviews.

APPROVAL & TRAINING
If the group is approved for the micro loan, ASPI conducts business training for the microloan recipients, including accounting best practice to ensure that they understand the loan repayment process.

ONGOING COMMUNICATION
Through Credit Officers embedded in the community, ASPI stays in contact with loan recipients on a weekly basis for counseling and to make sure they are running their business responsibly.

ASPI Launch Campaign to Empower Women

INNOAUTO COURIERA single mother to empowerment campaign project is being launch by ASPI and INNOAUTO under a new partnership agreement to create jobs and economically empower 256 single mothers through SME development in more than 5 regions of Ghana. The Project activities include training of single mother groups under ASPI Community Saving Group (CSG) and Mother Support Groups (MSG) under the ASPI Health Education with Microcredit and SME integrated programmes. Selected Beneficiaries will be trained on entrepreneurial skills and provided with mini vans under the Innoauto Transport Association, UK  to be used for food vending business, stationery distribution to schools and other marketable services in market places.

ASPI over many years have supported Ghanaian women in both rural and urban areas with micro credit/finance services, and health education.

Thanks to INNOAUTO for this partnership opportunity which gives the economic poor women opportunity to emancipate from poverty. To achieve the aim of this project, a fundraising effort has been launched with Global Giving