Micro Finance Update

Thanks to some amazing help from the WWU School of Business, the loan program has been continually growing. We now have two groups (group one have 6 and group two having 4), and both are demonstrating why God has chosen them to be apart of this program.

Group one started their third loan with this group yesterday (each member has completed two other loan cycles within this program). Each of the six ladies received S/.500 each (equivalent to $140 or one month wage) and will repay this back over a six month period (we meet every Monday). Group two is one month into a five month cycle and is doing very well. This is their first time with this program, but each has shown, and is currently showing why they want to be apart of this program. The have each received S/.300 (equivalent to roughly $100).

Thanks to WWU School of Business and Andrew Corson, we have effectively loaned out more than $3,000 to local business women here in the Santo Tomas community. Each one of the 10 women have committed to being apart of this educational process that will hopefully plant a seed of better living (through encouragement and learning) while giving them funds to help achieve this goal. As of current, we have a repayment rate of 96% -a strong percentage considering no collateral is required to receive a loan. We pray that God continues to bless this program as he has been doing.

Thank you for you prayers and support.