Making 0% Interest Loans to the Working Poor Since 2008 with a 99.74% Repayment Rate!
2015-Mid 2016 Progress Note
Thanks to Tim Gibson for establishing a memorial perptual
fund in honor of this Mother, Sybil Gibson
Poverty2Prosperity (P2P) is a San Francisco Bay Area CA-based 501(c)(3) Non-Profit Microfinance organization engaged in the goal of alleviating and breaking the cycle of poverty through micro-loans and other poverty-escaping projects.
P2P is focused on providing micro-loans to developing-world entrepreneurs who would otherwise not have access to working capital from traditional banks and credit institutions. By providing a 'help out' rather than a 'hand out,' micro-loans form the basis of a renewable source of economic stimulus; once the micro-loan is paid back, it can be re-loaned to another deserving entrepreneur.
Why is this so Amazing?
Here's what's amazing and why you should be interested in getting in on this. You know how donations usually work? You make a donation and the organization spends it on good and services for the cause they support. There's a big difference here. We're not spending our donations. We are making zero percent loans and that means that the money you donated is repaid back to P2P - AND we loan it right out again to another entreprenuer trying to work their way out of poverty.
That's not even the truly amazing part. What's truly amazing is that our repayment rate over the past eight plus years is 99.74% (it went UP last year!). Let us put it in these terms; We got an initial donation when we founded P2P of $1,000. That donation is still funding loans today and at our repayment rate, it will for about another 93 years. Have you ever heard of making a donation that keeps helping people over and over for about 100 years? We like to call it a renewable economic resource, because that's exactly what it is.
P2P follows an asset allocation/protection plan when funding loans and we use the Kiva.org lending platform to find our borrowers. We have received the following achievment awards from Kiva for loaning: Anti-Poverty Focus, Entreprenuerial Support, Family and Community, Vulnerable Group Focus, Client Voice, Facilitation of Savings, and Innovation. We support loans to Agriculture/Food Production, Food Transportation, Clothing, Education, Health, Manufacturing, Arts, Construction, Housing, Renewable Energy, and more while avoiding some loans such as cigarette sales, off-license liquor, pubs, and non-renewable energy source (e.g. charcoal).
Our Perpetual Funds
P2P has a number of funds it manages from general loaning funds to specific funds such as those loans for women only, microloans for education/tuition fees (as we recognize this as an additional way to break out of the cycle of poverty), to a loan fund that attempts to save loans from expiring and going unfunded, and even a Memorial Wall fund to honor those we love. We even have individually named funds from donations for individuals who wanted to be able to track their donation in a single fund. We call most of these accounts, Perpetual Funds, because once funds are deposited into them, they cannot be removed. Please see our Funds Page for a listing of all of our funds with descriptions.
Donate Now! Make a donation that's going to work hard for about 100 years
It's simple - we need more donations so we can fund more loans at a time. There are deserving loans going unfunded at this time and we'd like to be able to do something about it. Don't trust us because we ask you to, trust us because of our results. Seven years of loaning and a 99.61% repayment rate. P2P is a US registered 501(c)(3) tax exempt organization, so your donations are tax-deductible. You can make a donation to any of our funds via our Donations Page.
Over 95% (and no less than 95%) of donated funds go towards poverty-relief microloans. P2P's overhead is very low.
Latest P2P Funded Entrepreneur
Edison is a produce businessman who lives in Kagadi, Uganda. He is married with a big family to look after. He also farms for additional income. He has been in business since 2000, having started with an idea of earning money to look after his family. He was seeking a loan to stock more maize. Edison complains of little working capital.