noun: microcredit; noun: micro-credit
1 the lending of small amounts of money at low interest to new businesses in the developing world.
Having access to sustainable financial services enables the poor to increase incomes, build assets and reduce their vulnerability. Microfinance allows poor households to move from everyday survival to plan for the future, invest in better nutrition, improve living conditions and provide for their children’s heath and education.
A few months ago, 10 Oklahomans understood the need to assist 10 Haitian families with a micro-loan. These micro-loans were given without an expectation of repayment, expectation of ever seeing the money or ever meeting those they loaned the money to.
But the Haitian families have every intention of paying back the money, helping those in their community and increasing the health of their families. They have labored to prepare the land, plant the seeds, carry water to hydrate their crops that are almost ready to harvest.
As they harvest, they will work together to process their peanuts and create life changing peanut butter that provides nourishment their children desperately need. They are working hard to change the future of their community and their families.
As they sell the peanuts and/or peanut butter, they will use what they learned at their training meetings to save some of their profits, and pay back the loans that they were given. Then, 10 new members of New Song Church will have the same opportunity they were given; receive training and be provided with a micro-loan to start a small business. This small business will allow them to provide for their families as they may have never been able to.
We are so grateful for the first 10 Oklahoman’s who took a leap of faith and gave without the possibility of return or ever seeing for themselves how their gift made a difference. God has not only grown peanuts, but grown these Haitians, and shown them how He provides for those who love Him.