Although funding has dropped off we have still been able to continue with our mission. During the first six months of 2023 we have been able to make 369 new loans. 338 of those loans were made with funds paid back from previous loans and 31 were made with new funding.
Our focus continues to be in the country of Niger. We have been blessed with an outstanding loan coordinator in Niger and a populous that understands our vision and goals. As of today’s date we have been able to make 5,726 loans in Niger. The repayment rate on those loans has been a staggering 99.93%. This equates to a cost of $30.29 to provide a business to a family with an average size of 7 individuals or $7.33 per person. This enables to put food on the table for the foreseeable future, pay school fees so that the children can receive an education and provide basic medical care as needed.
Thank you to our loan coordinator in Niger and also to those that have received these interest free loans for their diligence in establishing a source of income and paying back the loans. This enables us to provide loans to more of those in need. Thank you!
We do have one village that is awaiting funding for loans. So please give if you can.