September 2011 - The Story of Microfinance

Dear Power of Love Friend:

Earlier this month, three ladies from Granny Connection based in Columbus IN, visited our pediatric AIDS care and micro loans program in Lusaka, Zambia. The three ladies walked the dusty paths in Matero to meet with the children and their families as well as our women entrepreneurs and their businesses. In addition, the Granny Connection team participated in a loan disbursement event where 50 new loans were provided to new women entrepreneurs. These 50 new entrepreneurs joined our group of 120 women entrepreneurs who have been working hard on their businesses and are on the road to self-reliance.

Microfinance has transformed the lives of many poor mothers and grandmothers in AIDS-stricken Africa and is truly a powerful tool in helping women become self-reliant. On average, POL's loan recipients provide care for four children and three elderly people at home - wow! Click on this linkto read a few stories of the women and their businesses.

 A key reason that our microfinance program has been successful is because of the careful monitoring of the loans and the business consulting we provide the recipients. Before we can provide more loans, we have to raise funds to continue these services. The cost of financing, monitoring, and providing business training is about $6 per loan per month - that's about $12,240 for 170 loans for 12 months. This is a crucial part of the microfinance program, and we ask that you contribute to this part of the program and help more women in Zambia become entrepreneurs. Please contribute to this program or to any of the other POL programs here or email us at info@poweroflove.org. As always, 100% of your donation will be used for the programs above (no part of your donation is used for overhead expenses).