Abe Feder presented the club with the Microcredit Program. There are currently 30 Rotarians involved in the program in Arizona, working with Hermosillo and Nogales. The micro loans are given in the amount of $350-800 to help working people who have been in business at least 1 year. The loans help them with expansion projects and working capital. 

 

The loans are made to groups of 3-12 professionals. Loaning in a group setting like this encourages more support and the encouragement from a team to work hard, support one another, and succeed. If one defaults on the loan, the others pick up their loan. In theory, this practice shouldn't work, but it's been highly successful.

 

Some of the type of borrowers include: retail, agriculture, farmers, tortilla makers, bee keepers, restaurant owners and more. When the loans are being considered, Rotary makes it clear to the families, in order to be granted the loan, their children must remain in school and continue to get their education. 

 

This program is another way of focusing on helping the international community and impacting as many people in a positive way as possible. For more information, please contact Abe directly at 602-622-7289.