New Partners Provide Funds to Open New Loan Programs
Since last November, each new TCP Global site provides the first $1500 for loans. In August, the Development Fund Norway (DFN) sponsored Samridda Samaj Dang (SSD) above and Tharu Community Development Forum (TCDF) below. Loans will benefit farmers in Dang and Bardiya respectively. Nepal found sponsors to open 15 sites since November. Once the first round of loans are repaid and funds re-loaned, TCP Global will send funds to expand the programs.
In the last 10 months, 37 new sites provided $1500 to open their programs - freeing up $55,500 in TCP Global funds.
Following a change in our fiscal sponsor's leadership, TCP Global opted to become independent. When our 501(c)3 application is approved, we will apply for grant funds to support ALL of our partners. Until then, we can only support the 37 sites that provided $1500 to open their programs. The Rotary Club of Coconut Grove accepts donations to support those 37 sites.
With an additional $15,000 in donations we will meet our 2022 commitment to these 37 sites.
$9000 is typically sufficient for a site to graduate, needing no further donations. Twenty-seven sites graduated. Twenty-four more are 2/3 of the way there. With an additional $72,000 we can fund these as well.
Young men's group in Dankassari
Dankassari, Niger women's group
Potentiel Terre in Niger used program earnings to open 11 new sites since last November in Matamèye, Birni, Franco, Kofa and Balleyara,
Thanks to a TCP Global loan this GARAKE micro-entrepreneur can plan ahead -- no longer selling goats to meet emergency needs. She can now plan ahead to maximize profit. Potentiel Terre, Niger
NEWS FLASH
TCP Global loans top $1M for 2022
Partners continue to reinvest money sent in prior years.
Loans issued are over 5.5 TIMES the value of funds sent.
A little goes a long way with our high loan repayment and reinvestment rate. Without initial donations from people like you, however, that leverage opportunity is lost.
What a $200 donation would leverage
1) One annual loan of $200 for years to come
2) Clean water filtering for 40 people (8 families) for 10 years, paid from program earnings
"The developing world is full of entrepreneurs and visionaries who, with access to education, equity and credit would play a key role in developing the economic situation in their countries." Muhammad Yunus
Until Peace Corps is fully back in the field, TCP Global is a good substitute for Peace Corps Partnership Projects for supporting development in small and remote communities around the world.
For more info, contact TCPGlobal@peacecorpsconnect.org
