Microcredit

how micro-credit will change the worlds economy

Microcredit Sustainability Tour

UTW biked across Canada along the Trans Canada Trail (coast to coast) to create greater awareness as to the benefits of micro credit in creating true sustainability for communities in economic need.

Check out our Microcredit Sustability (Bike) Tour Blog Archive

UTW biked across Canada along the Trans Canada Trail (coast to coast) to create greater awareness as to the benefits of micro credit in creating true sustainability for communities in economic need.

Micro-credit is giving small loans at low interest to help home -based businesses get started. As loans are repaid in installments, they are lent out to the next member in that community and so on.

Lawrence started May 2011 in Vancouver on his bike quest, traveling on a national network of bike trails across Canada’s heartland before switching to highways and country roads in the east. Cycling on roads & unsealed trails with little more than a day’s provisions (more than what half of the world’s population has to sustain themselves), our tour completed in Halifax on August 24, 2012.

http://tctrail.ca/explore-the-trail/

Visit Lawrence’s Live Road Blog

You can still visit Lawrence’s Across Canada Road Tour journal here, Microcredit Sustainability Tour.

Here’s a few pics from the journey to date:

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Why Microcredit?

We believe micro credit, when used properly is the most effective and dignified way to support any community in economic need, and far more sustainable than traditional charity. From this flourishes education, health, training, greater community & cooperation, and improved standards of life, as our projects have proven. CSLI has seen firsthand the successes and benefits in Sri Lanka. Micro-credit is a ‘hand up’, not a ‘hand out’, and it is the ability to give over and over again, as each loan continues to recycle through the community.

Starting with seed capital of only $5,000 in 2006 (and fantastic support by our Kalmunai community) we have already generated over $250,000 in loans, and this has been done despite civil war and natural disasters. Success in Kalmunai has come largely due to the diligence and care of a Rose Sri Lanka team who are part of the community and provide on the ground skills & business training within the communities. Funds are carefully managed and distributed into new businesses that are needed (small shops, craftmakers, farmers) ensuring that risk is spread amongst different industries. Most funds are provided to the women in the families as success rates have proven to be greater.

Members of our micro-credit community are also connected through other projects of Rose Charities & CSLI, including education for children, health & skills training for parents, medical & emergency support, which means there is a greater grassroots connection and better chance of success. Once home businesses are established, they have the ability to seek traditional bank loans, but with low interest rates offered since they have the reputation of being part of the Rose MicroCredit system.

Our goal on the “Road to Kalmunai” is to expand our projects to $1m of loans by 2012 and expand micro-credit projects into other communities that need help.

Of all our CSLI projects, this one has made the greatest impact.

News:

http://www.rosecharitiesnews.blogspot.com/

 

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