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Poverty2Prosperity (P2P)
Poverty2Prosperity (P2P) is a San Francisco Bay Area CA-based 501(c)(3) (see our status pending page) Non-Profit Microfinance organization engaged in the goal of alleviating and breaking the cycle of poverty through micro-loans and other poverty-escaping projects.
P2P is focused on providing micro-loans to developing world entrepreneurs who would otherwise not have access to working capital from traditional banks and credit institutions. By providing a 'help out' rather than a 'hand out,' micro-loans form the basis of a renewable source of economic stimulus; once the micro-loan is paid back, it can be re-loaned to another deserving entrepreneur.
Micro-Loans & Asset Protection
P2P utilizes the lending technology platform provided by Kiva.org. Kiva works in the field directly with local countries' Micro-Finance Institutions (MFIs) and has developed a ranking system to identify sound MFIs who are enabled to present qualified borrowers (entrepreneurs) to potential lenders. Kiva then aggregates lenders to fill these micro-loans. The current repayment rate for micro-loans presented via the Kiva platform is 98.46% (as of 8/28/08).
P2P attempts to provide micro-loans in a socially responsible manner and as such, looks to fund loans in the following areas as a priority: development of local food supplies (agriculture), health, education, renewable energy (solar), and safe water supplies.
P2P follows these asset allocation guidelines (unless otherwise specifically outlined in a particular grant) in order to give it the highest level of asset protection and to minimize risk.
* No more than 5% of P2P's total portfolio is in any one MFI.*
* No more than 10% of P2P's total portfolio is in any one country.*
* 95% in 4 & 5 Star (out of 5) MFIs as ranked currently by Kiva (as of 8/28/08).
P2P Perpetual Loaning
P2P now has a separate account with Kiva.org that has been tagged as "non-withdrawable." Funds used in this account will be loaned through the Kiva platform perpetually. Donations and grants made to P2P's Perpetual Fund are uniquely tracked in a database so that loaning preferences and guidelines may be specified which will be followed each time that particular person's funds are available for reloaning. See the Perpetual Fund Information Page for more details on this service.
*for amounts over $100 in any category. Funds are tracked separately.
Latest P2P Funded Entrepreneur
Safargul Kurbonova lives in Jalollidini Rumi. She is 47 years old. She is a single mother of 10 children. Her husband died 14 years ago. Since that time, she has worked in business. She opened a small bakery where she bakes flat bread and then sells it at the market. She plans to take out a loan to buy flour and other necessary ingredients for her business. This business is the sole source of income for her family. Therefore, she wants to expand it.