The History of DHF

DHF was formed out of a volunteer grassroots pilot project called “HopeBank” (HB) in Cajamarca, Northern Peru. Began as a volunteer project by Magdalyn Z. Miller, Founder of DHF, the project lasted approximately 1½ years and implemented successful microcredit concepts from other nonprofit institutions such as Grameen Foundation USA and FINCA. In addition to the following descriptive statistics of the HopeBank volunteer pilot project, please see HB's loan process and our lessons learned.

To view some of the profiles of the HopeBank borrowers, go to HopeBank Profiles.

To view the original HopeBank newsletters that were written for the monetary supporters of the HopeBank pilot project, see the following files:

GENERAL BUDGET:

Duration of Pilot:

Total neighborhoods served:

Money spent on direct loans:

Money spent on capacity building training:

Money spent on personnel costs (Peruvian staff only):

Operational costs:

Rate of successful payback:

Interest Rate on loans:

April ‘04-Oct ‘05: 12 months

2 neighborhoods

US $1682

US $278

US $1636

US $650

95 percent

3.5 percent on balance

BENEFICIARIES:

Total number of beneficiaries:

Average age of beneficiaries:

Age range of beneficiaries:

Percentage of clients without husbands:

Total number of household occupants (in women’s houses):

Average number of house occupants per beneficiary:

22 women

35 years old

16-57 years old

64 percent

122 occupants

5.5 per household

CHILDREN:

Average number of children per beneficiary:

Total # of children served (of beneficiaries):

Average age of children served:

Median age per child:

Age range of children:

Mode of age (most common):

3.0 children

65 children

11.7 years old

11 years old

1 month-27 years old

8 years old

LOANS:

Number of loans given:

Total amount loaned to beneficiaries-Stage one:

Average amount of loan:

Median amount of loan:

Range of loan amounts:

Mode of loan amount (most common):

US $1682

US $77

US$25-US$155

US $93

Note: the average loan was US $77, interest rate was 3.5% monthly on remaining balance. Funds were from voluntary supporters from the public in the U.S. and non-tax deductible, only Peruvian locals were provided compensation for their work on this project. Money is still being loaned by the host country project leaders in Peru who work on a voluntary basis.