By Scott Paterson | CEO & Founder
We created the Microloans for Education/Tuition Fees fund because, while Poverty2Prosperity had been making loans to the working poor who wanted to start a business to break the cycle of poverty in their lives, we also saw that one could break that same cycle through education. So far, we've been able to make 41 loans to prospective students. 3 of those loans have not been completely filled yet, so there are 37 that are in repayment mode. We currently have a 0% delinquency rate and 0% default rate. We've been able to make 4 additional loans based on repayments to date, so you can see how donations help future students practically perpetually. Loan out - Repayment in - Loan Out, repeat. Our loans have been made across 11 different countries such as Vietnam, Cambodia, Peru, Nicaragua, Bolivia, Paraguay, Dominican Republic, Philippines, Tajikistan, and Armenia. We're hoping to eventually have loans in 85 different countries with Myanmar being the newest country available to us. Thanks again for your support and don't hesitate to re-support us with another donation if you like what this fund is doing!
All the Best,
-Scott and Colette
Poverty2Prosperity.org
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By Scott Paterson | CEO
By Scott Paterson | CEO & Founder
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