“But these three things remain: faith, hope and love; and the greatest of these is love.” 1 Corinthians 13:13
One year after:
Wellshire Microfinance began in faith, with the hope -- in the unknown -- to change lives, and… we received an outpouring of love from you all!
On September 28, 2011, Wellshire Microfinance (WMF) began with the inspiration to spread the Light to lend a hand, not a hand-out, for the greater good. The initial mustard seed amount for this effort was $500. The total impact to our global community has been $7,400.
Another year over and what have we done? We’ve:
- collectively lent out $7,400
- initiated 281 loans
- engaged 10 WPC youth
- received 26 loan repayments
- added 39 contributing members to WMF, and
- directly impacted over 600 lives.
WMF has attracted 39 members in its 12 short months since inception. Some members are groups within Wellshire (such as Pioneers, Club 45, Christian Women's Crossing, etc.). These 39 members have lent $6,150 around the world – from Armenia to Mali to Zimbabwe – 48 nations in all! Groups have been the recipients of 11% of these member loans, with individual men at 39% and women at 50% of member loans. Members have made 43 loans in the past 30 days alone! Of the 231 member loans made, 26 have already been repaid.
The WMF committee has disbursed 50 loans totaling $1,250. The WMF loans break down as groups at 24%, individual women at 42% and individual men at 34%. WMF has lost zero per cent of WMF committee loans made since inception. After a WMF committee loan is repaid the proceeds are reinvested with a new entrepreneur.
To learn more about how you may engage in this community-global outreach, contact the Rev. Dr. Pattie Kitchen or Wes Smits, or visit us online here.
Yours in faith, Wellshire Microfinance