Kagando Rural Community Microfinance (KARUCOM) is a community based financial organization established in 2002 to effect the extension of credit to the poor, especially women. Since its inception, KARUCOM has provided flexible, small, short-term loans for those who do not have collateral to qualify them for those who do not have collateral to qualify them for financial assistance from conventional sources. It offers business or agricultural start-up or expansion money to individuals and groups. It also provides ongoing education in business, book keeping and agronomy. The program is funded by interest on loans, local investors and contributions. It has achieved an 85% compliance rate for first time loan recipients and is making a significant contribution to the economic vitality of the communities served.
KARUCOM also provides quality financial services and promotes a savings culture. Planning for the future is not and inherent trait in the community. Through its services, enterprises such as pottery making, bicycle repair, brick production, carpentry, grist mill construction and operation, tailoring and agriculture, and livestock production have developed to profitability.
One of the activities, which is very popular with donors, is the Animal Exchange Program. Young animals are given to needy families and individuals. The recipients are instructed in their care and breeding. In turn, the recipients give the firstborn female to another designated person or family as payment for the animal received. In this way, in sequence, others benefit from the original gift. This ongoing process enables many to become self-sufficient livestock entrepreneurs. Profits realized provide for household needs, including school tuition fees, and funds to start up an enterprise.
Donors can purchase goats, pigs and chickens as gifts to relatives and friends on special occasions and holidays such as birthdays and anniversaries and for Christmas and Thanksgiving. We have had requests to give pigs as wedding presents. Not so strange when you think about the good resulting. If you would like to give a meaningful gift to help those less fortunate click here.