Micro Loans Program
Many indigenous people in Guatemala cannot speak Spanish. Their own native languages (which are often unwritten) and thumb print signatures are not acceptable to reputable lending institutions. With credit, many improve their small businesses by making wholesale materials purchases and adding equipment. Others can also find a way to better manage unexpected emergency expenses.
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Mayan Families helps the development of indigenous communities and families through our Micro Loans Program
We have provided many zero interest loans through agreements with organized groups.
Through the guarantees of the groups we work with, we have realized a constant payback rate of nothing less than 100%.
We are also conducting a trial for a Savings Program as an extension of the Micro Loans
Program. Mayan Families provides co-signatures to open bank savings accounts with select individuals. The people we
co-sign with then have their names on the accounts and faithfully make monthly deposits. Through this arrangement , poor
and un-educated people have their faces and names become known to the banks, as well as experience the benefits of
obtaining interest.
History of the Micro-loan Program
How you can help this Program
Because we do not charge interest for our loans, our ability to extend
more loans and savings accounts is constrained by our overall cash flow as enabled through contributions to this Program.
A contribution of $150 will enable us to extend an additional micro loan of average amount.
A contribution of $60 will enable us to open a savings account for someone interested in this project.
Please select the Contribute button to support the Micro Loan Program. All contributions of any amount are gratefully
accepted and will be used only for this Program. Over time, your contribution will be realized by many different individuals
receiving loans and savings accounts.
Most Recent Headlines for the Micro-Loan Program
| Latest Micro Loans (04/11/2008 02:41 PM) |
