Microcredit for Macrodreams
Our systematic approach has been developed to establish close relationships between lenders and borrowers. Partnering with legal organizations in foreign countries allows this because in most cases our borrowers have prior relationships with our partner(s). Therefore, they are able to provide us with constant updates concerning the borrower, the loan, or other miscellaneous events. The growth of our program relies on continuously establishing relationships with different organizations in the foreign countries. In our program, new borrowers are introduced through new partners. The borrowers that are part of a partner organization are sponsored continuously until they have amassed profits to take on traditional loans. The cycle of poverty is not broken with one or two recoverable grants, rather several recoverable grants that slowly widen profits and increase standard of living. This method of growth brings our lenders, our partner(s), and us closer with our borrowers. Our lenders are able to follow the success of the borrower they have chosen to help. Establishing these relationships is a top priority for Fundarmenia, because the appeal of our program is that individuals are coming together for a collective effort in funding low-income borrowers. This is the highlight of our program, because it brings the social aspect of Microcredit to the forefront.