Portrait of a Successful Sustainable Program -- Built on Love
* Team effort provides transparency
* Strategic use of resources to meet community needs
Thanks to opportunities provided through SONCOL, the TCP Global partner in La Victoria, Colombia economic hardships do not stand in the way of this child's dreams.
SONCOL gave a TCP loan to Carlos, the dance teacher, so that all children could participate with beautiful costumes.
2012 TCP visit
The LV team, led by Rita and Padre Honorio, is motivated by love for the community. They maintain a 99.7% repayment rate on 518 loans (avg. $244) issued over 10 years.
By running a successful loan program, SONCOL earned $25,000, mostly in interest. They invested in a women's sewing cooperative which generates sufficient revenue to pay utilities at the community center.
Program earnings paid to cover the rough brick walls in the above photo and to repair the roof, damaged by torrential rains a few years ago.
TCP Global's dual mission provides:
* affordable small business loans
* steady revenue stream to empower effective non-profits.
SONCOL spent $3000 on relief during the COVID pandemic.
Thanks to the steady revenue stream of TCP Global earnings, SONCOL is empowered to implement local solutions for local problems.
$25,000 can stretch a very long way with wise stewardship in the developing world.
SONCOL with MINICOL in Miami, provides financial aid and mentoring for children thru secondary school. They wanted to help with college as well. In 2018, LV used loan program earnings for low interest loans to allow 6 students to finish their education.
They used additional earnings to create a separate fund for personal loans.
Recent loans in La Victoria were issued to Yorbis for a grocery store, to Carlos for a hardware store, to Luz Marina to raise chickens and to John who repairs motor cycles.
Good economic theory must give the people the chance to use their talents to build their own lives. We must get away from the traditional route where the rich will do the business and the poor will depend on private or public charity. ....Muhammad Yunus
How you can support TCP Global:
* Connect us with potential loan partners in marginalized communities
* Volunteer to mentor a loan program in a country you know well