Thursday, September 3, 2009

Micro-Finance Update

This last week, we kicked off another group full of amazing women. This group is carrying over the same people who were in the first group, with the addition of one more person. With that being said, we have one group of 6 women (already started upon their three month journey) and another group of 5 women (which will start their 4 month journey on September 21). Thanks to some additional funding, we were able to add 6 more ladies to the original 5 (now we have 11 in all).

Each lady commits to coming to every single meeting for the duration of the loan. They each bring ideas to the table. The purpose of this loan is to assist in starting, or expanding, business ideas with people in the community. Their participation is key. We try to provide some necessary resources in order to help them, but ultimately, the choice is theirs.

From what we have found, the group concept provides some great pressure and responsibility to the members. They hold each other accountable –not wanting to let the others down. This scenario, we have noticed, creates a family atmosphere. This, along with constant involvement from the leaders, has tremendously assisted in the consistent repayment from the ladies.

Anyone that has interest in this program, please contact me (linfoot.aaron@gmail.com). This is an incredible program that has so much potential. Ultimately, this is Gods program. He will help lead this where it is meant to go.

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