Women Empowerment

Am working in a small town outside Kampala the capital of Uganda and am being compelled to do something for women.
The condition they are in is so heart breaking and I truly believe I can do something for them. After a deep interaction with most of the women, they all have brilliant ideas of what they want to do in future and all these beautiful ideas of how they want to grow big in life. All they lack are finances just to help them out. Lately I've been thinking and also brainstorming on how to help them out and I want to start small. With the little am earning, I was thinking of selecting only five women and give them a group loan that will be paid weekly and themselves will act as security since really the have nothing to present. In addition, I want to encourage them to save as much as they can at the end of paying their loan, there saving will be matched. Has anyone done this before? Any ideas and help on how best this project can run will highly be appreciated. Thanks for your time.