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ARC Liberia

Head Office: Monrovia

Where ARC Works in Liberia: Margibi, Montserrado, Lofa, Nimba and Bong counties

People We Serve: Returning refugees and Liberian communities affected by the war

Micro-enterprise Development

Generating economic activity is crucial to sustainable reconstruction and growth. However, entrepreneurs in Liberia often lack the minimal resources to restart or grow economic activity. Currently no banks operate outside of Monrovia (capital of Liberia) and credit services for very small businesses are almost non-existent. There is a huge need for grants or loan services for micro-businesses in places with minimal financial infrastructure. There is also a need for basic business training that can cater to a very low literacy level. Currently ARC operates two programs in the sphere of Microenterprise Development and Microfinance.

Liberty Finance: In January 2005, ARC Liberia established a microfinance institution, Liberty Finance, to provide small loans to active entrepreneurs to fortify and expand their businesses.  Liberty Finance provides Solidarity Group Lending with group size of 7 to 10 members.  First loans start at around $60 USD and have a limit of $500 USD. Credit training and close follow-up mentoring is provided to each of the clients participating in the program. Over 80% of clients are women.

Liberty Finance currently operates in Liberia’s capital, Monrovia, Gbarnga (Bong County) and Kakata (Margibi County) and has served over 2,200 loan clients. Liberty Finance is also helping people to start loans and savings groups. To date, these groups have generated more than $10,000 in group savings and $13,000 in loans.

Check out Liberty Finance's Latest Newsletter Liberty Finance Newsletter


Business Grants and Training Program:
Recognizing the importance of jumpstarting economic activity throughout Liberia, ARC provides small business start up grants to extremely vulnerable returning refugees, IDPs, ex-combatants and other community members in Bong and Lofa Counties. So far, over a thousand individuals have attended a week-long business training and received $70 start-up business grants. The grants enable most clients to increase their business assets by 50% in a four-month period.

A second phase of the project supports the start-up of community savings and loans clubs, which will provide savings and credit opportunities to entrepreneurs in rural areas. A local NGO, Liberian Initiatives for Development Services (LIDS), assists ARC in implementation of the program. 

 

 


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