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Transcript of HPUMC Microfinance
We gave a working capital of $18,000 loan: $9,000 to the Child and Family Services and $9,000 to the Wesley Mission Foundation in the Philippines.
We funded $10,000 to Wesley Mission Foundation.
An additional $19,000 was granted with the condition of continued financial reporting from the partnering NGO.
We created our own Bank of Hope through Esperanza International with $5,000.
The Esperanza Organization
Esperanza International hopes to create a middle class in the Dominican Republic.
With the Bank of Hope we funded, Esperanza International selects a rotating group of 5 recipients of the loans.
A vast majority of our
recipients are women
who have established stores selling food, clothes, beauty products, and jewelery.
Highland Park United Methodist Church
Community Loan Program
Our mission is to raise families out of poverty with microloans.
We accomplish our mission by partnering with local non-governmental organizations. We provide faith-based training and capital to start the microfinance mission. We will remain active in the partnership to ensure growth and sustainability.
“By determination and hard work, progress is faster. Engaging in business is a better way for a better future than merely depending in employment,” Richelle Bernabe, Village Labi, Bongabon, Philippines.
Richelle and her husband struggled when they had to relocate to the mountains after their village was flooded. They support two children and her mother. After receiving the loan, they started a business that delivers gasoline in containers to their customers. They want to expand and sell soft drinks too.
The Wesley Mission Foundation provided 108 loans totaling $16,060 to 78 women and 30 men in 4 towns in the Philippines .
Because of typhoons and bad weather, agricultural loan repayments slowed to an estimated repayment of 75%.
The funding to the Child and Family Services currently provides 41 loans totaling $6,452 with a 100% repayment rate.
Richelle at a business meeting.
CRUZ D. is 45 years old with 3 dependents. She has a high school education. She received a loan of 15,000 Dominican pesos to enter the shoe sales business. She has completely repaid this loan with interest.
Tania is 29 years old with 4 dependents. She has completed basic level 1 education. Her loan helped her to start her undergarment sales business, which she repaid with interest.