by Carlos Gomez
Opportunity for Hope, a non-profit, 501c3 organization, based in Westerville Ohio, granted the GCLA Foundation the amount of $55,000 to be used in Micro-loans to promote micro businesses entrepeneurship in Choluteca, Honduras, for the poor of the poorest.
Of the total grant $40,000 will be directed to micro loans, and $15,000 to create the administration and pay for salaries, transportation and office expenses for the first year. At the moment 12 loans have been granted, on amounts of $100-$300; 10 more loans have been approved. In 24 months we expect to manage 200-250 loans and to be self-sufficient.
The micro-loan program was inspired by Nobel-Prize winner Mohammed Yunus of the Grammen Bank of Bangladesh. We expect to combine our 10 year experience and contacts in Choluteca, the solid leadership in the church, and the other businesses such as the tortilla factory and bakery.
More reports will be posted as we hear news about the developments of this amazing opportunity.
[...] One of the awesome projects going on in Choluteca is the micro-loan project. This project provides small loans to entrepreneurs to help them start, improve or expand their business. This is a fantastic project that will not only help the families whose livelihood depends on these small businesses, but will also add value to the community. Read more about the micro-loan project. [...]