Personal housing can often be the number one stabilizing force in a family for both children and adults. When personal housing is secured, adults are free to either search for employment or start their own businesses and hire others. On the other hand, when children have safe, personal housing, they are much more likely to experience less trauma and are more free to pursue educational aspects of their lives. We fully expect to maintain our 99%+ repayment rates on the microloans we make for this.
Lack of personal housing can be devastating to individuals and families. Lack of personal housing puts a roadblock in front of so many poverty-alleviating activities such as searching for a job or focusing on getting a good education. Both individuals and especially families will benefit from receiving a microloan intended for personal housing needs. Many of these needs are to repair a roof, a wall, dig a well, etc.
This project will help provide zero percent interest microloans. Because we have maintained such a high repayment rate since 2008, when P2P was founded and made its first loan, we feel confident that we can maintain our high repayment rate will providing one of the most stabilizing forces in providing a path to poverty alleviation.
The long term impacts are both economic and educational. Employment opportunities can be better found with stable personal housing. Individuals can consider better starting a new business to support a family. Families have a safe place to stay and are not homeless. Children have a much better chance at getting an education and succeeding with that education.