Poverty2Prosperity.org makes zero percent interest loans to the working poor and we are trying to establish a new fund for single parents who want to work themselves and their families out of poverty. Zero percent interest loans give single extra help in supporting their families livelihood in the form of simple necessities such as food, personal housing, education and more.
Single parents living in poverty have an even greater challenge in working themselves out of poverty as traditional two-parent households which makes it all that more difficult to succeed. By providing zero percent interest loans to single parents, Poverty2Prosperity.org helps to make it just a little easier to break the cycle of poverty for these families as well.
These loans will help single parents who do not have access to traditional sources of working capital or credit a chance to implement their business ideas in order to work themselves out of poverty. We support loans to start businesses or to maintain existing businesses (e.g. mend fishing nets).
P2P has been making 0% interest loans to the working poor since 2008 and since then, 95% of donations have gone directly into making loans and, to date, we have a 99.74% repayment rate - as repayments are made, they go right back out in the form of new loans. Not only do we have a general fund, but we have funds for Women, Youth, Education, Personal Housing, and now, we are trying to establish a fund specifically for single parents. Donations should keep making new loans for 99 years!
