How ASPI Funds Work
Martha has recently become a beneficiary of an ASPI microfund. She sells plastic bowls and bottles from China. ASPI’s fund helped her buy more merchandise, making sure that she is not running out of stock.
Matthew runs a liquor store. ASPI’s loan enabled him to open new locations and even start serving some food.
ASPI funds are never given out to a single individual but to a group of 10 guaranteeing the weekly payments. The binding element of the group is the church community. Matthew is the leader of such a team. He speaks how the groups are set-up among the community, leveraging the credibility, honesty and reliability of the possible candidates.
ASPI micro-funding activity is unique in the general competitive financial sector scene in Ghana due to its impact:
- strengthening and growing the business of people that would not be able to get a loan from a bank
- indirect support to their extended families (health care, education)
The Family Shop
Sapphire is a mother of 3 and runs a grocery shop. Her day starts at 4 am and ends at 11 pm. Luckily she is helped by her sister to do shifts so she can look after the household and children too.
Luisa is the owner of the shop called “Just One Day”. It tells about her dream and hard work to build this business. ASPI was the organisation that helped her dream come true. Her next plan is to buy some land and build a house in order to improve on her living conditions. Housing in Ghana is a challenge as usually the rents are required to be paid upfront for 2 years.