Frequently Asked Questions


What does Hope 4 Africa do?  We target remote villages in West Africa and people who live on less than $2.00 a day. We also
serve individuals who lack access to traditional bank loans. Hope 4 Africa offers them a small loan with an interest rate which
enables them to earn a sustainable income and eventually pay back their loan.

How much are the loans?   Currently the loans range from $30.00 to $160.00.

How does Hope 4 Africa screen applicants?  A Hope 4 Africa loan officer meets with each borrower and walks through an
application process. Each applicant must demonstrate a sustainable income and the ability to repay their loan. An agreed
upon time frame is established between Hope 4 Africa and the borrower on when the loan will be repaid.

How long does it take for an applicant to repay a loan? Most loans are repaid between five to nine months. Hope 4 Africa's
loan officer comes to the village at an agreed upon time to meet the borrower and collect payments towards their loan repayment.

What happens to the money once the loan is repaid? The loan is returned to Hope 4 Africa and is loaned
to another borrower.

Is there an interest rate? Hope 4 Africa has established an interest rate of 7% on each loan. For example, for a $100.00 loan
the borrower must repay $107 over the agreed upon time frame.

What happens to people who don't repay the loan?  We have given to over 1,000 individuals within three years of operation
with a 99% repayment rate. In the case that a borrower is not following through with their repayment plan, the loan officer
and the women's coordinator (who works with the loan officer) gives encouragement to the borrower to follow through on their
commitment. If a borrower does not repay their loan, they do no qualify for a second loan.

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