Progrese Microcredit Program
PAG’s Progrese Microcredit program works towards improving the income and living conditions of the program’s beneficiaries by giving them opportunities to develop small businesses through flexible credits offered at competitive rates within the market. Our clients are low income individuals, most do not have guarantee, and they do not have access to bank financing. Besides financial support and training, additional activities include advising our clients about the market, customers, administration and marketing.
The profits gained from the Progrese Credit program are reinvested back into the organization to provide additional loans to other PAG programs and to help with PAG administrative costs. The program has improved its efficiency and has a low percentage of 5% of late payments.
*As of December 2012, the Progrese credit program currently has $2.1 million in loans out to 1,100 clients.
Hand-made cards (Global Art)
Global Art is a small business created by four single mothers who live in Flor del Campo, Tegucigalpa, a slum area in the south western part of the capital of Honduras. These women work diligently at their handmade crafts using brightly colored paper, cloths, dried flowers, and stencils to create their works of art sold throughout Honduras.