microfinanzas.

So I still have much to learn about micro-finance, and the micro-finance site at SI (mine for the next few weeks). But here's a few things I've learned about micro-finance with Students International:

at its basic level

-Micro-finance is providing small loans ($100-$1000) for people to invest into business ventures, so that they can better provide for their families and grow their businesses

-Micro-finance is providing lending services to those who would otherwise be considered "unbankable," those (most Guatemalans, but especially the poor in these communities) who would not meet the requirements from banks or lending services for loans

-Micro-finance is providing people with the resources to build up savings accounts, so that in the event that something happens to a family member, the business doesn't have to suffer (savings accounts are very rare, and the idea of putting away money for future use is nearly unheard of, however, the benefit of having one can be huge for a family)

-Micro-finance is weekly or bi-weekly required Bible studies/accountability groups, and simple lessons about finances

-Micro-finance is offering loans at a much lower interest rate than any bank around will offer (the loans from SI this year have interest rates at 1%, loans from banks or lending services start at 4% and quickly go up from there)

-Micro-finance is creating relationships and using finances to express the love of Christ in order to see growth in people's lives

....but sometimes...

-Sometimes micro-finance is buying office supplies and rubber gloves in Antigua

-Sometimes micro-finance is helping your site leader with her English lessons, and remembering how hard it was to learn a second language at first (Once again, thank the good Lord I didn't have to learn English as a second language)

-Sometimes micro-finance is organizing the office supplies bought in Antigua in the office at the community center in El Gorrión

-Sometimes micro-finance is making sure the site's monthly budget is all in order

-Sometimes micro-finance is vaccinating chickens at no expense to the prestatario (person who's received a loan from SI)

-Sometimes micro-finance is going to sell electronics in the Magda market with a prestatario, but actually just selling a few toys to an SI site leader, and then leaving because there weren't that many people who wanted to buy electronics

-Sometimes micro-finance is visiting a prestatario to see how much paint we'll need to paint her store-front with a group

-Sometimes micro-finance is advising a woman on what she could sell to the groups who come, or how she can make her stuff better, so that she doesn't have to always go door to door to sell the products she makes

-Sometimes micro-finance is visiting a prestatario and simply listening to their story, and praying for their struggles

Always.

-Micro-finance is always about relationships. About listening and caring. About sharing life and love. And living out love. And hoping that through our acts love, others will come to know The Love. It is about money and finances and loans and savings and businesses. But it is 100% more about relationships. And love.




I don't have any pictures of the site or the prestatarios yet... but here's a picture of a happy chucho for your viewing pleasure...