Best Loans for NGOs in Ghana
Many Non-Governmental Organizations (NGOs) in Ghana are under funding, and finding loans for NGO in Ghana can be difficult because of lack of collateral or poor credit history.
Below are some of the best NGO loans available in Ghana today to help you get your organization up and running.
What is an NGO
Non-governmental organizations (NGOs) are international organizations that work outside of the structure of a government. NGOs are generally composed of two or more people who want to make the world a better place.
Their efforts often include raising awareness and educating on social issues, providing humanitarian aid and disaster relief, raising funds for education, promoting cultural change, human rights advocacy, and more.
How does an NGO operate
NGOs operate on the principles of voluntary work and collaboration. They are run by nonprofit organizations, which makes them accountable to the public through tax laws and transparent in their finances.
The benefits of an NGO arise from the involvement of passionate individuals who devote their time towards making a difference. An NGO does not have any shareholders but relies on donations to fund its activities.
In many cases, these projects are granted as part of a philanthropic act that does not offer equity or financial return to donor or beneficiary.
Some NGOs in Ghana
- Action Aid Ghana
- Ghana African calabash volunteer
- African Centre for Peace Building, (AFCOPB)
- African Human Right Heritage
- African Solution Network Inc.
- Akrowa Aged-Life Foundation
- Alliance for African Women Initiative
- ALLIANCE INTERNATIONAL
- Amicus Onlus Asempa Yetsia Cultural Troupe ATWWAR/WCPRC
- Blue-Med Africa
- Campaign For Learning Disabilities
- Carenet center for disease control and prevention in Africa(CDC AFRICA)
- Centre for Energy, Environment, and Sustainable Development (CEESD)
- Centre for Popular Education and Human Rights, Ghana Change 1
- Colorado-Ghana Children’s Fund Community Welfare Foundation
- Cradle Of Hope for Relief and Development Darsfoundation
- DAS Foundation
- Develop Youth Ghana
- Development Solutions Centre
- DHYI Disaster Volunteers of Ghana (DIVOG)
- Dream Africa Care Foundation
- DWIB Leukaemia Trust EAGLE FOUNDATION
- Earth Organization Ghana Chapter
- Embracing Hidden Talents Network – Ghana.
Best ways NGos in Ghana can get loans
There are a few things to keep in mind when it comes to getting loans as an NGO. We highly recommend reading up on some of the basics before you start your search. The most important things to remember are:
- You will need a formal loan application with a detailed breakdown of all expenses, revenues, and projections for the future.
- To give you the best chances of being approved, it is advised that your loan is tied to an international organization that has already given their approval.
- There are several international organizations that offer free training on how to structure a loan application that is most likely to be approved.
Best loans for NGOs in Ghana
For an NGPs to attract loans, it needs to be credible and has all proves that shows they are making impacts. With this, you can easily attract donors and even if you go for loans, it can easily be given to you. The best loan for an NGO in Ghana can be;
- Bank Loans – NGOs can request loans from banks if they deem fit. They need to follow the necessary loam process and if the banks have a separate method for NGOs applying, they can make enquiries and follow such.
- Organisation Loan – Top companies and organisations can also decide to give loans to NGOs if it can be fruitful to both parties.
- Individual Loans – Top individuals in high positions or high standards can single handedly gives out loan to NGOs if necessary.
- Government Loans – NGOs can receive loan grants from the government in they are working in line with them in a way that will benefit both parties.
There are other ways that can be thought of but above are the few common ones.
In conclusion, the most beneficial loans for NGOs in Ghana are not easy to come by and many of them require collateral. It is always important to read the fine print before taking out a loan so that you know exactly what you are getting into.