Our Vision
It is our shared vision to empower the “economically active poor” so that they can contribute significantly to creating jobs and wealth in The Global Economy.
Our Mission
To contribute to breaking the cycle of poverty in Jamaica by extending financial and related services to the economically active poor in the society, creating opportunities for the self-employed by providing capital to those who do not have tangible collateral to offer and bringing the disadvantage into the mainstream economy through a well-run, profitable microfinance institution.
Bottom-Line Objectives
NationGrowth will have a composite bottom line objective:-
a) To deliver loans and other financial services to this group in such a manner that we mentor these small business people and encourage them to graduate to the formal economy. NationGrowth’s services will relieve these low-income borrowers of the need to deal with ‘loan sharks’ and other unscrupulous lenders who operate in the dark of the underground economy.
b) To position NationGrowth in the micro-credit market as a source not only of credit, but also a means for the target group to increase its productivity and market savvy. We aim to be the cutting edge of the market in terms of introducing new products and adapting old ones to better serve our clients. Collaboration with other stakeholders is essential and we have a specific commitment to use these partnerships to provide legal services to help our micro-entrepreneur clients secure TRNs and Tax Compliance Certificates, as well as land titles. We intend to build a more civic minded set of people among our borrowers and encourage them to help and build the communities in which they live (see NationGrowth’s 12 tenets).
c) To ensure the consistent profitability and financial soundness of NationGrowth so that it can be self-sustaining over the long term and thereby continue to expand its services to the creditworthy poor.
d) Building and maintaining a clean and healthy environment.
USING NON-TANGIBLE COLLATERAL
A substantial portion of NationGrowth’s collateral from clients will be created by training and guiding our clients to develop personal discipline (the focus of the first of the company’s 12 tenets), mutual trust, group and individual accountability and transparency in behaviour and with transactions. Women entrepreneurs will be sought out and encouraged.
Borrowers will graduate up the loan amount hierarchy (from J$10,000 to J$500,000) based on the growth and size of their businesses and quality of their repayment record. All borrowers will be encouraged to put aside some cash in order to increase their wealth and independence.
SOLID EQUITY CAPITAL BASE
The equity capital is committed and will be at least J$221 million.
The shareholders are a group of private investors.
Investors have decided to give NationGrowth a very strong equity base and in the process give the institution a robust future borrowing capacity. |
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