At Deva, we aim to help the poor and less privileged climb out of poverty through our empowerment window. This involves financial assistance and microloans, which facilitate the starting or improvement of various microbusinesses, cottage industries, and farming.
Our model incorporates both individual and group methodologies, leaning more towards group methodologies.
We focus more on women groups, with more emphasis on those with families: informal, solidarity, and formal groups.
Below are our empowerment loans.
1. GREEN LOAN
The Deva green loan is for informal, solidarity, and formal groups. The minimum number for a group under this is five, while the maximum number allowed per group is 20. Where the group is a formal registered group with more than 20 members, then they are split into A, B, and C groups with a maximum of 20 members per group. The members cross-guarantee themselves. Under the green loan, all members of the group must take the same amount of loan for the same term.
Each group is mentored to be self-regulating and self-governing.
2. YELLOW LOAN
The Yellow Loan is for individuals who are not part of a group or those who have outgrown the group and need more funds for their businesses than what the group members are requesting individually. It is also applied in situations, localities, or businesses for which group formation is not ideal. The Borrower here must produce a minimum of two guarantors.
3. ORANGE LOAN
The Deva orange loan is also for groups: formal, informal, and solidarity. The difference here is that the members do not have to take the same amount of loan, and the loans do not have to be for the same tenure. The members must cross-guarantee themselves.
4. WHITE LOAN
The Deva White Loan is our emergency care loan. It is designed to help our borrowers remain focused on their businesses in times of trouble and not divert or touch their business capital. If a member has health problems, family issues, or even school or examination fees to pay for the children and cannot fund them with her own resources without tampering with her business capital or funds, Deva avails her of the white loan. This is a soft loan.
5. RENTA
Renta is designed to help the active poor avail themselves of modern technology while making payments over a period of months. Most of our people cannot afford enough money to make outright payments for solar lamps, solar cookers, biomass stoves, etc. due to their economic situation. Through Renta they acquire these tools and equipment while making gradual payments for them over time, between 3 and 12 months.
Renta is also available for those, in particular youths, who pass through our skill trainings and wish to establish a microbusiness, such as in the areas of Agricultural products processing, biomass briquettes, solar work, tailoring, mobile phone repair, snail and grasscutter and rabbit breeding.
6. WELLU-WELLU LOAN (HEALTH LOAN)
Health is wealth. Our health loan is specfically available to address a health issue in the family. Our clients who suffer health challenges or face health challenges in the family can access our wellu-wellu (health) loan to tackle and mitigate the problem. interest on wellu-wellu loans are much lower than those on other loan products and are available to clients who have been with us for a minimum of 6 months.
Deva loans–small loans that changes lives!