By Colette Bailey | Fund Manager
The SOS Loan Fund has been enhanced by the donations on GlobalGiving. Every month our fund gets new donations, which is awesome. The purpose of this fund is to help some of the loans on our medium to fully fund. To date, over 600 loans have fully repaid! This means over 600 families have benefited from this fund. Lately, this fund has been used for a lot of group loans as these are larger and are hard to fund at the last minute. By timing our lending to times that there is a business matching loans, we have been able to make a huge impact. Some of the countries that have larger, group loans that we have been supporting lately include: Senegal, Bolivia, and Peru.
The best part of Poverty 2 Prosperity is that repayments go back into the fund to lend over and over. Currently, the fund's amount repaid is 3.7 times the current fund amount. Now that is an effective donation!
We look forward to this fund participating in periodic themes such as sewing, coffee, and agriculture. By its nature, it may make other loans than the theme. Just a way to keep things fun.
Thanks again for supporting Poverty 2 Prosperity and microfinance by donating.
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