Village Savings and Loans
Suggested Price: $100.00
Your donation will provide a start-up kit, implementation training, and longer-term livelihood skills development.
Two are better than one, because they have a good return for their labor: If either of them falls down, one can help the other up.
The wisdom of Solomon in Ecclesiastes speaks to the importance of working together in community. Village Savings and Loans is a group-based microfinance method that is based on the collective savings 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, members receive all their savings back, plus interest. This method enables participants, working as a community, to increase their earning ability, which provides for daily needs, children’s education, money for emergencies, as well as community cooperative initiatives. Your donation will provide a start-up kit, implementation training, and longer-term livelihood skills development.
Pray that these groups will experience unity and joy as they work together to support and encourage personal and community development.