Project Report
| Aug 23, 2017
Closing Down Our GlobalGiving Project.
By Scott Paterson | Founder
Thanks so much for participating in giving to Poverty 2 Prosperity, Inc's projects on GlobalGiving. This fund will remain active but we are no longer going to be promoting our project via the GlobalGiving platform because we have limited time resources for our volunteers, so we can no longer maintain writing regular reports here in order to keep campaigns active.
We continue to have wonderful success with our 0% interest loans to the working poor and 95% of our donations go directly into making loans. Since 2008, our repayment rate on all loans is 99.74%, so donation made today will continue to help make new loans for nearly 100 years. We like to refer to it as a 'renewable economic resource' - it's a help-out rather than a hand-out. You can tell from the repayment rate just how successful microfinance can be and just how hard these people are willing to work themselves out of poverty.
Thank you again for all your support,
-Scott
Founder, Poverty2Prosperity.org
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Jul 28, 2017
July 2017 Youth Fund with Poverty 2 Prosperity
By Colette Bailey | Youth Fund Manager
Hello Donors,
The Youth Fund is really gaining momentum! Recently, there was a $500 donation directly to Poverty 2 Prosperity, but the Youth Fund started here on GlobalGiving.
Here is one recently fully repaid loan:
Neth is a 22-year-old farmer from the village of Trapeang Tmat in Srama Commune, Cheung Prey District, Kampong Cham Province. She has two children and her husband is a blacksmith. They have been in their respective businesses for seven years. Their net income is 40,000 KHR a day.
Neth wants to renovate her small house because it is very old.
Thanks again for donating to help young people around the world improve their lives.
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Apr 28, 2017
Micro-lending for Youth April 2017 Report
By Colette Bailey | Youth Fund Manager
Sometimes young adults are really amazing, and our report will feature one young woman who took a loan for 15 months and repaid it in only 7 months! Let me introduce our featured youth borrower Dilnoza. You will find her story below. Meanwhile, repayments from the loans that you have helped fund will go toward new borrowers. By having access to funds, borrowers may be able to buy in bulk, expand their inventory choices, or buy tools to better do the business they are in. All these may help improve the profits of their business and allow for a better standard of living. Thanks again for your support!
To become a good seamstress takes a lot of effort and will. Only by striving for the very best result can a person reach their goals. With a calm and steadfast character, Dilnoza finished her higher education and at 21 years old has a high status among her peers. Having studied the finer points of tailoring, for the past three years she has been taking orders and sewing traditional clothing as well as European clothing. The number of her clients increases day by day - some are referred by a friend, some hear about her from their neighbors. The most important reward for Dilnoza is the feedback from her clients. It should be noted that she learned this trade from her mother. Today, Dilnoza wants to expand her business and purchase all the necessary materials and equipment. But without your support she won't be able to realize her plans. Please support her.
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