NEW MICROCREDIT OPPORTUNITIES IN MEXICO

 
Microcredit Global Grant – Hermosillo, Mexico Update August 2014
By Terry Lubsen
Great news! The Rotary Foundation announced approval August 2, 2014 of our Microcredit Matching Grant for Rotary year 2013-2014. Contributing Rotarians and Clubs can expect to see Paul Harris credits to their accounts shortly. The $102K will be used for small loans to help small businesses that lack other borrowing sources grow in Hermosillo Mexico. For this Project we will be working with a new Host Club, Pitic Hermosillo and a new Microcredit Financial Institution, FinReg. Funds are expected to start being loaned within three months, as FinReg organizes lending groups; then repaid and recovered within four-six month cycles, and loaned again and again. I am very happy with the expert level of participation from the Host Club in Hermosillo, Pitic, and expect our partnership to be the first of many. As Host Partner, the Pitic RC has embraced this project and will be pivotal in managing the project to make the most of the Microcredit loans in their community. We will have Quarterly Project reviews with Pitic and FinReg to insure success, with collection rates expected to be 98-99% as one measure of the these small businesses loans.
It should be noted that this project was a joint effort of the three Districts in Arizona, as well as District 5330 – Muretta RC; District 6220 – Eagle River RC; District 6400 – Windsor RC & RC Windsor-Roseland.
I want to thank and acknowledge every Rotarian, Rotary Club and District Governor for their participation and support of this International Global Grant.
We will be organizing trips to both Nogales and Hermosillo in the fall to visit borrowers and see how small loans really do make a big difference. I will provide further updates on tours as we develop the schedule for 2014-15. If you would like to participate please contact me at, TerryLubsen@yahoo.com.
If you are interested in learning more about how small amounts of money loaned without collateral makes such a big difference to overcome poverty, contact me, Terry Lubsen at terrylubsen@yahoo.com to schedule a presentation to your club or activity.
Your contributions will earn Paul Harris credits, be matched by the Rotary Foundation and help us reach new borrowers who have no other source of capital to support themselves and their families. Microcredit is the most effective and sustainable poverty intervention. Join us in this International Project and make a big difference a few hours away.
 
 
Microcredit Project Tours, Nogales, MX Oct
 
When?
 
October 11, 2014 or December 6, 2014 or February 7, 2015  all-day
Where?
 
Nogales, Arizona
Contact
 
Terry Lubsen
480-699-9649; 480-250-8159

Microcredit Project Tour, Hermosillo , MX

When?

January 1, 2015 or April 1, 2015 all-day

Where?
 
Hermosillo, Mx
​Contact
Terry Lubsen
480-699-9649; 480-250-8159