Village Saving and Loan Association
All of our members especially women and youth are resource-poor and faced with serious challenges in accessing formal financial services for farming needs attributed to the stringent requirements. To bridge this gap, we established village savings and loan associations (VSLA) as an alternative to meeting the credit needs of all our members.
Village Saving and Loan Association (VSLA)
Empowering our members, SNoTHFaMCo provides financial and technical support to farmers in Nimba County. Through financial assistance programs, we enable members to access capital for investment in their farms and businesses. Simultaneously, we offer technical guidance, knowledge sharing, and training on modern farming techniques. This two-pronged approach ensures that members have the necessary resources and knowledge to thrive in the world of agriculture.
Because almost all of our members especially women and youth are resource-poor and faced with serious challenges in accessing formal financial services for farming needs attributed to the stringent requirements. To bridge this gap, we established village savings and loan associations (VSLA) as an alternative to meeting the credit needs of all our members. The amount credited from the VSLA is used by our members to procure inputs, agro-chemicals, etc. We generated L$750,000.00 (Seven hundred- fifty thousand Liberian Dollars) or its equivalent of US$3, 865.97 during the first year.
Empowering Communities: A Record-Breaking Year for VSLA Fundraising
In 2024, we successfully raised LRD $2,434,000.00 for the Village Savings and Loan Association (VSLA). This impressive amount represents a significant increase compared to the LRD $600,000.00 raised in 2023.
The substantial increase from 2023 to 2024 highlights the positive impact of our collective efforts and the importance of continued contributions from our communities. We are deeply grateful for the trust and commitment demonstrated by our supporters, and we look forward to achieving even greater milestones together in the future.
Together, we can continue to make a significant difference in the lives of many local farmers!