Grameen testimony: Jeff Rutt and the benefits of microfinance on small-scale enterprises

According to Jeff Rutt, founder of HOPE International, businessmen are constantly being consumed by the details, logistics, and operations of their corporate paradigm and perhaps are losing sight of the reasons why they are tackling difficult challenges. “Let’s all remember that in every technical and intricate aspect of operating business, we should ultimately always return to focusing on our clients—men, women, and children,” he said.

From JEFF RUTT

Microfinance provides hope to small-scale business owners. Unlike large companies, microenterprises have more potential to have a well-controlled corporate system because their size doesn’t promote many problems, operational challenges, and hectic diversification. Yehu Microfinance Trust, a Grameen Foundation program established in Kenya, is a major provider of micro-financial services to small-scale Kenyan entrepreneurs. Jeff Rutt agrees that this kind of economic aid will yield boons to a lot of African business owners, especially female entrepreneurs who are oftentimes culturally disregarded in the world of business.

From Scrapbook Photos

Grameen Foundation established Yehu Microfinance Trust to make sure that well-run local groups reaching out to the poorest of the poor have access to the money they need to make loans and increase the number of people they serve. A particular success story, one from Charity Kulola, reveals that microfinance can open up a world of opportunity for business aspirants like her. Charity received her first loan of $64 from Yehu and opened a stall that sells coconuts in the coastal village of Chakareli. With her second loan of $128, she started to expand her business and added vegetables on her products list. Charity recently took out a loan of $102 to invest in a retail shop and to diversify her business.

From JEFF RUTT

For more information about Jeff Rutt and his view on microfinance, visit www.hopeinternational.org.