About Trust Banks

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Information about About Trust Banks

Published on December 20, 2008

Author: wonderwebby



a few slides to explain trust banks, based on info from Opportunity International Australia, part of my voluntary ambassadorship between now and June 09

Trust Banks, Women, Poverty & Microfinance a wonderwebby project her story

This woman lives in poverty in the Philippines To get ahead, she could start a business but... dreaming of a better day

..she has no collateral to get a bank loan and a loan shark could charge her 100% interest per day stuck in poverty

one day a microfinance loan officer gives an information session about Trust Banks. She applies to become part of a Trust Bank with other women from her village hope

She is accepted into the program along with 15 to 30 others and joins in training with the loan officer for a few weeks joy

Her trust bank chooses a name, a leader, treasurer and person to collect payments. Her initial loan is $70 to $300. She sets up a fruit stall, or bakery, or perhaps a shoe store . new day

The money she receives helps her to buy products in bulk, increase her variety of products, or buy a bigger cart for her stall big dreams

She meets weekly with her Trust Bank members, learning about business , making payments, receiving training and advice freedom

The money she earns helps her to provide nutritious food for her family, better health care, education and housing improvements . impact

She is encouraged to become an agent of transformation in her community, to help combat poor sanitation & violence stronger

Six months later she has paid off her small loan, and she qualifies for another , bigger loan. The whole cycle takes two years. empowered

Once her loan is repaid, the money is recycled to a fund a new loan for a new, poor entrepreneur REinvest

You can help finance a Trust Bank in the Philippines by making a tax deductible donation of $2 or more @wonderwebby Women’s Opportunity, Opportunity International Australia the real face

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