We just got back from our trip last night, and we are proud to announce the completion and success of the pilot project. We researched microcredit through both MFIs and the borrowers themselves, and learned an immense amount about the industry. Most importantly, we learned that the best and most successful MFI is one with a strong social mission, one that truly invests in the education of its borrowers, and one that cares about the borrowers' abilities to create successful businesses and pay back their loans with ease.
Unfortunately, we were not able to loan the money to our consituents in La Carpio this trip, due to the short time were there and the fact that our partner MFI, ADAPTE, requires a 3 month training program in advance of the loan. However, we now have a solid promise of working with ADAPTE, and will keep you posted about how are relationship with them, and how our organization as a whole, develops because of our trip.
Thanks to all who have been staying updated with our blog- we appreciate your interest and hope you are just as excited as we are about the future of this organization. Please stay tuned for pictures on the website, www.redscissors.org, as well as updates about how the organization is going to work. We have a lot of work to do!
And remember, we are still raising money for the High School in La Carpio. To donate, please scroll down to the "Chip In" widget below.
Sarah & Ezra
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Congratulations on the success of of your trip to Costa Rica. I can't wait to tell the world. Let's concentrate on raising the money for these projects.
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