By Scott Paterson | CEO & Founder
Thanks to donors, our microloan fund for Education and Tuition fees is off the ground and flying. We've made a total of 86 loans to date in 18 different countries. Giving zero percent loans out to be put towards education is a great way to break the cycle of poverty and we are very excited about this new fund of ours. An example of one of our loans is to a woman named, Nancy, who lives in Irbid, Jordan; Nancy is a 21-year-old, single lady who lives with her family. She is a university student majoring in Accounting. Her family is facing financial crises, therefore she has all the challenges of being able to achieve her dream to complete her education. The income of her father is not enough to cover her university fees, so she applied for a loan to pay for her university fees and achieve her dreams. This loan of $2,550 is fully funded and has been disbursed to Nancy. Even though it's early in the fund's life, three loans have already been 100% fully paid back. We have no defaults at all and P2P's overall repayment rate since 2008 in all of its funds combined is an amazing 99.61%. Every penny that comes back in the form of repayments goes right back out to other deserving students.
Thanks again for your support and consideration in making a donation to this fund.
-Scott
Scott Paterson
Founder
Poverty2Prosperity.org
Links:
Project reports on GlobalGiving are posted directly to globalgiving.org by Project Leaders as they are completed, generally every 3-4 months. To protect the integrity of these documents, GlobalGiving does not alter them; therefore you may find some language or formatting issues.
If you donate to this project or have donated to this project, you can receive an email when this project posts a report. You can also subscribe for reports without donating.
