This year has been a dynamic one for our loan program. We always seek to work hand-in-hand with villagers to determine the best way we can help them to help themselves. This year, we learned from villagers that they want to break up their village loans into micro-loans for individual villagers. These loans are used to invest in such projects as purchasing tools for their gardening, starting small shops and buying fertilizer. We were amazed to learn that villages that have split up their loans like this have seen much higher profits! One villager in Famana even gained 84% profit on his individual loan!
Our in-country loan coordinator, Alou, says that our strongest asset is that we have created such a strong relationship with villagers. It is because of this strong relationship of trust that we’ve been able to see a 92% loan repayment rate.
We invite you help us fund 12 new village loans this year. We still need over $8,000 to reach our goal. Let us know what you think of this update by leaving feedback in the comments section below.
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