The Small Business Development Program is launching an ambitious small loans initiative beginning in October. In just under two months, we have revamped SBD from a small financial consulting program into a micro loan program. Teaming up with the local Patranato, or the local government social service, we have found a number of potential clients involved in agribusiness. Along with the Patranato and a local financial cooperative as our partner, we will be giving business classes throughout the month of October. At the end of the month, the clients will submit business plans laying out how they would utilize and then repay their loan. From this group, we will select the four most promising candidates to give loans of $400. Through this initiative, we are able to offer interest rates that are significantly lower than national banks and local financial cooperatives. Our program has already raised $1000 through a generous donation to get our initiative off the ground. We have set a goal of matching that through public fundraising so please click the link below to learn more about the program and to donate.
http://www.razoo.com/story/Mpi-Ecuador-S-New-Microfinance-Program
Best,
Jefferson
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