More Rotary Grant Micro-Credit Loans
Recently Rwanda Children Educational Foundation gave out 11 more loans to the parents of our students.
The 10 mothers and 1 father were so happy to receive these loans to start a business or improve their business. They are on their way to earning money to provide for their families.
Jean Pierre, RCEF Office Manager, met with these parents to train them on how to use this money wisely and how to pay off their loans. He communicated to them that receiving this loan is an opportunity to better their financial status.
The picture below is of a mother receiving her loan from the Bank.
RCEF has distributed 138 loans over the last 3 years.
We have had floods and Covid to set us back some, but overall, the parents have prospered because of these loans.
Very poor individuals cannot take loans from a tradition bank or credit union as they do not have any collateral. The bank interest fees are also very high – 13 to 18 percent. We charge 5 %.
RCEF is very grateful to the Rotary Clubs of New Hampshire’s Lakes Region for making this Grant available to our parents. This opportunity has truly changed lives.
Would you like to help RCEF?
To contribute via PayPal: click the Donate Button.
To contribute via check: make payable to RCEF and mail to RCEF, 1386 Meredith Center Road, Laconia, NH 03246.