We're looking to help fund the most overlooked microloans on the lending platform we use - that is loans for educational purposes such as to pay for tuition for the borrower or the borrower's children (6-24 years old). It is a well proven fact that education provides future stability for both the individual and the family. This is one fantastic way to help lift a person or group of people out of poverty with just a help-out, not a hand-out. We enjoy a 99%+ repayment rate in our funds
The challenge we face is that educational loans are not as popular as agricultural loans, for example. Many loans for education/tuition purposes go unfunded (loans have only 30 days to fund or they expire and don't receive the 0% interest money from us). Many children ages 6-24 are denied an opportunity to get an education which provides a stabilization effect on the family. This is a great way to use a help-out rather than a hand-out and with a 99%+ repayment track record, we can help a lot.
We will be able to directly help fund these overlooked education/tuition loans but not only that, when we add our dollars to funding the loan, it pushes the loan popularity of a particular borrower up higher and gets it more exposure with other lenders which always helps loans to have a much better chance of funding. Since these are loans, we will be able to help 400 children immediately plus more with every single repayment we receive.
The long term effects focus on family stability. Education always provides open doors to opportunities within an established economy or for someone to add to that economy with a new business. Ultimately, the economic situation of families with educated children rapidly improves and can lift them entirely out of poverty. We can help 400 children immediately and with a 99%+ repayment rate track record, we can help more every single time a repayment is received.
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