Niels Lund's Contact Details

Niels Lund's Company Details

Microloans for Mothers

Encinitas, California, United States • 1 Employees
Banking

Increasing Quality of Life for Families through Microloans and EducationVisit here to donate and help improve the quality of families' lives in Cambodia: https://www.classactarts.org/donate.html The Microloans For Mothers program issued its first five loans in November of 2010, and within a year grew to serve 35 clients. Women receive an initial loan of $100 to start or improve upon a home business. The loan is paid back over a six-month period, after which the mother can apply for a larger loan. To date 100% of the loans have been repaid. Mothers are organized in "loan groups" of five members that meet weekly for business training, fellowship, payment of loan installments, and deposits to their individual savings accounts. Staff in Cambodia prepare a monthly progress report on each mother's business. By helping mothers with capital to start their own businesses, the program enables low-income women to take a proactive role in creating a more promising future for themselves and their families.