For profit vs Non profit high interest vs affordable interest
Village Savings and Loan Association (VSLA) issues loans and receives payments with full transparency. Interest earnings stay in the group.
A May 3, 2022Bloomberg News Report explains how the 'for profit' micro loan industry has spent millions in tax payer dollars to increase misery rather than reduce poverty.
Rukia, president of the Yumbe Rotary Club explains that TCP Global is different from other micro-lenders in that the interest is affordable and the interest goes to the group.
Success = Empowerment
Honorable Avako Melsa, Minister to Parliament from Yumbe, presents certificates to fully funded VSLA groups that now mentor new groups. Next step is to negotiate bank loans for those needing larger loans.
Size Matters: < $100 vs > $1000
With an $84 loan, Balkissa bought a 25-liter can of oil and a bag of wheat flour. In the morning, she makes donuts bought by those who go to the fields. In the evening she sells to young people in her village in Niger.
TCP Global partners give borrowers loans they can manage successfully. As they gain experience, the loan size increases.
This Sudanese refugee in the BidiBidi camp used a $54 loan to buy a goat, a pair of ducks (which are now 10) and sow a maize and sorghum garden. Her income has increased.
She says it is fortunate she has the extra income since the world food program reduced rations for refugees. "Thank God for bring us TCP Global program"
SUSTAINABILITY
TCP Global builds permanent loan programs able to continue on their own without outside assistance.
THE EXTRAS
TCP Global and People to People partner with CCEDUC in Yumbe, Uganda to implement the priorities the community identifies -- keeping teenage girls in school, training programs, sanitation upgrades.
With the Makiga brick machine anyone can make bricks using local materials.
Trees are saved because the bricks are not fired. Uniform bricks require less mortar and thus less water.
The Rotary Club of Yumbe, formed by TCP Global borrowers, tested all 625 residents of Achiba Village and treated the 50%+ who tested positive. They will follow up with new testing in 2 months.
The Yumbe Rotary club installed 43 latrines and hands-free hand wash stations in Achiba Village.
60 women came to a Sunday morning class on making sanitary pads. These will help keep teenage girls in school in the Yumbe District of Northern Uganda.
Demonstrations on making both liquid and bar soap in Uganda.
Soap is for personal use and also to sell in the market.
CCEDUC and other TCP Global partners provide training to help their groups and their borrowers be more successful.
Learning to decorate sandals at Good Deeds Day Sierra Leone
Youth in rural western Sierra Leone display what they learned in a three week intensive training on cake baking and decoration, thanks to Elizabeth Brewah of Good Deeds Day Sierra Leone.
The community of Rodo in Northwestern Uganda donated an acre of land for a training institute. They want to teach soapmaking, tailoring and other entrepreneurial skills in conjunction with the Rodo Women's Savings group. They seek partners to help them realize this dream.
"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
TCP Global is grateful for recent donations from the groups below to help pay for fiscal sponsor services provided by the National Peace Corps Association (NPCA). These donations support NPCA project administration and NPCA's overall mission. 100% of regular donations are distributed as micro loans. We would love to add your group's logo here as well.
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
