MICROFINANCE
Microfinance is when funds are given or loaned to those who would not otherwise qualify for a loan, due to poverty. The recipient requesting the grant or loan receives classes on starting a business. They are educated on starting a business, basic book keeping, and business expansion. When a request for support is generated, the requestor must submit a business plan with the request. HTHOU then considers the request and determines if the support will be approved. When loans are given, it is at a low interest rate.
Because of the poor job opportunities, helping others start their own business allows them to become self sufficient and gives them the ability to expand and grow. It also presents the opportunity of providing employment to others within the community. If interested in sponsoring a microfinance venture, there are several opportunities; each one is done on an individual basis. They range anywhere from $70.00 to $150.00. The sponsor is kept updated on the progress of the business so they are able to walk alongside the recipient.
Matthew 5:42 Give to the one who begs from you, and do not refuse the one who would borrow from you