By Scott Pateson | CEO & Founder
To date, Poverty2Prosperity.org's Education/Tuition Fees fund has made 141 loans in 24 different countries. Already, the fund has a 7/7 Social Performance rating. The fund makes loans to those seeking an education and to education providers. The fund currently has a 100% repayment rate (there was a 1.3% dollar loss simply due to currency fluctations when going back to US dollars). As soon as repayments are made they go right back out as loans to others seeking to break the cycle of poverty by getting or providing an education.
An example of one of our education loans is to Nancy in Jordan: Nancy is a 21-year-old, single lady who lives in Irbid, 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 where she is studing accounting.
Poverty2Prosperity (P2P) is a San Francisco Bay Area CA-based 501(c)(3) Non-Profit Microfinance organization engaged in the goal of alleviating and breaking the cycle of poverty through micro-loans and other poverty-escaping projects.
P2P is focused on providing micro-loans to developing-world entrepreneurs who would otherwise not have access to working capital from traditional banks and credit institutions. By providing a 'help out' rather than a 'hand out,' micro-loans form the basis of a renewable source of economic stimulus; once the micro-loan is paid back, it can be re-loaned to another deserving entrepreneur.
Thank you so much for supporting this fund. Please consider another donation, if possible!
-Scott Paterson (CEO & Founder)
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