TLC Microloan Fund
Throughout the season of Lent in 2023, Temple collected money to establish a Microloan Fund. This Fund has become a ministry here at TLC, and we have a committee dedicated to providing loans to small businesses around the world. As these loans are repaid, the money will continually be recycled into new loans! This fund will help to finance entrepreneurial enterprises all over the world at 0% interest.
What is a microloan?
A microloan is a sum of money lent to somebody, usually in a developing nation, to help them unlock capital and address barriers to financial access around the world.
An estimated 1.4 billion people on the planet are considered “unbanked” due to socioeconomic and systemic factors like gender inequality, racism, wealth inequality unstable governments, refugee status, or lack of education.
How do microloans help to transform God’s world?
Microloans help unbanked individuals to have access to starting a business and earning an income. On a global level, microfinance can:
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Promote better health and education – families who utilize microloans are less likely to pull their children from school for economic reasons.
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Help close the gender gap – Over 80% of microloan recipients are women located in countries where cultural and social norms do not support gender equality.
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Provide a sustainable source to help low-income populations – Microlending allows funds with charitable intentions to be lent over and over again to additional individuals once it has been paid. Microloans are the gift that keeps on giving.
How are microloans given and repaid?
We will be using Kiva.org to manage this. We get the choose the specific endeavors we fund but Kiva has an administrative infrastructure that is separately funded by donors.
How can I help?
See the bulletin insert, order here online, or contact the church office to contribute!
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Thank you for Living Generously!