 |
|
|
|
|
|
|
Micro-Loans: In Focus
|
 |
|
|
Micro Loan Business Woman
|
|
|
Selling Maise
|
|
|
|
Micro Loan Program Overview
What is it?
Initiated in response to the need in Kenya (and elsewhere) where pastors typically do not receive sufficient compensation as a pastor of a church, so their wives often have a meager business to help supplement the family income. The micro loan program provides seed monies to the wives of the pastors, which allows them to expand an existing business. This business venture provides for the family and ultimately allows the pastor to become self-sustaining and establishes a more effective community church outreach and ministry.
How does it work?
* A need that would benefit from a micro loan program is identified in a particular country.
* A national committee that has affiliation with an Association of Evangelical Churches is formed.
* The local national committee establishes rules and expectations.
* The local national committee evaluates and chooses loan recipients.
* The local national committee is responsible for the accountability and integrity of the micro loan program.
Donors from the USA contribute initial start up monies that are deposited into a designated micro loan fund. The amount of loans that can be awarded each year depends on the amount of contributions that are made to the micro loan fund.
The loan amounts are approximately $175 -$300.
Some pastor's wives have purchased additional inventory for their small shops or expanded farming operations.
The business idea must be plausible and only business ideas that have a likely capability to succeed can be accepted by the national committee. A written business plan, which includes the loan pay back ability, in addition to a loan application, must be submitted for loan consideration. The woman's husband (pastor) should not be involved in the business or allow the business t
...
more>
|
|
|
|
|
|
;)
;)
