Website World Partners Foundation - SURGE-ON MICRO CREDIT PROJECT

SURGE-ON MICRO CREDIT PROJECT

Location: Eastern and Southern Sri Lanka Budget: $65,000 per year Background After the previous Tsunami fishing boat project of World Partners, different people kept requesting support for further development of their businesses. The massive outpouring of relief goods and emergency food has not provided sustainable structural income after the Tsunami. But the people are eager to adapt to new entrepreneurial ventures. Their request for small loans will not be heeded by local banks as these people are not bankable. We cannot leave these people as outcasts, since they are willing and capable to learn sustainable business practices.
	GIVE FOR SUSTAINABLE TSUNAMI RELIEF
		Every year $65,000 is needed for administration and new loan capital for entrepreneurs.
	thermometer
	PARTNERS
	Shalom Care & Resurgence Alliance Y - Gro Ltd.
GOALS
Give tsunami devasted families a possibility to set up a company and sustainable incomes for themselves. Set up a permanent revolving fund that will be able to provide for other social projects in this area in the future.
PROJECT DESCRIPTION
The number of assistance requests that our local partner received has been investigated. A Sri Lankan studying an MBA at the Wittenborg University in the Netherlands started to write a program. The employees of World Partners finished the proposal and now Gordon White is currently in Sri Lanka to investigate the full establishment of the fund. With the competencies of the partners involved, the loan fund should be able to disburse to the first businesses in 2007.
PROFIT EXPECTATIONS Cliënts pay back their loans with interest, but this is very low and only enough to cover the local operating costs. Our local partner guides and advises the new businesses, with applicable management and administration skills. The cash flows and business model of each individual client help determine their payback period and the subsequent cash flows of the fund.