Village Savings and Loans
Suggested Price: $50.00
Your donation will support the costs of a start-up kit and implementation training. It will also contribute funds for sustainable livelihood training.
If anyone is poor among your fellow Israelites in any of the towns of the land the Lord your God is giving you, do not be hardhearted or tightfisted toward them. Rather, be openhanded and freely lend them whatever they need.
Village Savings and Loans is a community-based microfinance method that is based on the savings groups of 15-25 people, who generate their own fund by making weekly contributions. This money is then used to make loans to one another and the interest is invested back into the fund. At the end of each 12 month cycle they ‘share out’ where each person receives all their savings plus
interest. This method equips those in extreme poverty with the knowledge and skills to work as a community, to increase their earning ability, to provide for their daily needs, their children’s education, and a system to save money for emergencies. Our priority is to train, equip, and resource nationals to administrate this program.
Pray that God will bless communities who desire to support one another and provide for those in need living among them.