Micro Loans

One of our major goals was to find a method for helping people get a head start and get on their feet, and at the same time be proud of what they have accomplished.

A great way to do this is through micro loans. The problem we thought would be finding a way to determine who to lend to and how much we should lend. This is usually done by someone who knows the area and understands what a viable business would look like and if there was a chance the loan could be paid back.

The main reason that a loan works better then a gift is that it creates more of sense of ownership and it allows the money to be used multiple times in a year.

Most micro loans are often less the 50 dollars and they are paid back within 6 months allowing the same 50 dollars to help out two people a year, the money is used to help people by increasing their economies of scale, and in this country every cent counts.

I am happy to say that I think we found a way to facilitate these loans without us having to screen each applicant. During a meeting today with the pastor from the local church he said that they already have the frame work set up and have be administering a similar program within their church. We discussed expanding the program to reach the whole community and they were very excited about the possibility. Even if we only added 250 dollars to their pool, we would be affected positively the lives of many here.

So we have asked for a meeting with their board next week and they are setting it up!!! This could be huge. So pray that we will be able to make things happen and that this program could start soon, that we would be able to communicate clearly and know what amount of funds to entrust to them.

I am sure Adam will be posting something later tonight so stay tuned.

Thanks,

Luke
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