From SCVD
MICRO-CREDIT LOANS FOR SEWING MACHINES: MAY 2009
MODERATOR: Melita Wade Thorpe, St. Andrews, Saratoga
Description of the project: Micro-credit Loans for Sewing Machines
Micro-Credit Loans Launch Committee: Melita Wade Thorpe, St. Andrews, Saratoga, Nan Fitch, St. John’s Capitola
Summary of Discussion:
- In compliance with the Millennium Development Goal: #3 To Promote Gender Equality and Empower Women, a Women Helping Women group was formed at St. Andrews Saratoga in 2006 to give micro-credit loans to women in business in a developing country. WHW raises funds with book sales, handmade note cards, ECW, and the Echo Shop.
- History of WHW:
- 2006 the first micro-credit loan for $1,950 was sent to thirteen women in Haiti.
- 2007/08 second micro loan for $6,000 was sent to the Philippines.
- 2009. A study is being done to look at a micro loan for a company needing sewing machines. It is hoped to match or exceed year two.
Next Steps:
- Looking for the best managed women owned businesses. The intention is to only give to programs that are well run and insure success.
- Looking for the best way to distribute the micro loans. Currently, partnering with ERD which provide funds, support and training to insure women have necessary tools to make a living and keep their children in school. Women repay loans 98% + to keep programs going.
- Encourage other churches in the Diocese to support the women owned business in developing countries with micro-credit loans.
Contact Information Launch Committee: Jean Hankey jeanhankey@juno.com or Melita Wade Thorpe, tours@melitatrips.com (408)279-5588