(Video) Micro Finance in San Miguel de Allende, Past, Present and Future [] Rotary Club Program

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YouTube Link:  https://youtu.be/SpiDOIxu-KE

By: Elizabeth Adlung

A Little $ Goes a Long Way

The Midday Rotary Club has a new partner and a new mission–Microfinance!

The Midday Rotary Club and Apoyo Para Gente Emprendedora AC (Apoyo) will expand the microfinance program of Apoyo by increasing the funds for lending.

The Educational Micro-Lending Program (EMLP) is the core program of Apoyo. In the past decade, EMLP has helped over three hundred individuals and cooperatives start their own income-generating enterprises by awarding no-interest micro-loans averaging 7000 pesos (USD$350).

EMLP, in contrast with most micro-lenders, requires all applicants to attend its workshops in order to be eligible for a loan. This requirement lets Apoyo become better acquainted with the entrepreneurs and their projects before granting a loan; and it improves the applicants’ odds of running a successful business once the loan is awarded. Loan recipients stay in close communication with Apoyo through its mentoring program.

The track record of Apoyo is impeccable — well over 90% of loans are repaid completely within a year thereby creating a revolving fund for continuing loan resources.

Ezequiel Mojica founded Apoyo sixteen years ago to help educate individuals who lack education to succeed in their lives outside of their local communities. He has built a very successful organization that has been recognized locally for its many accomplishments. He was also recognized by the Midday Rotary Club as Citizen of the Year. His vision and dedication have helped individuals and families to raise themselves out of poverty and earn sustainable income. (See www.apoyo.mx for more information)

Norman R. Feldstein, D.M.D., is a retired dentist and dental educator from Pittsburgh, Pennsylvania. He is a member of the Midday Rotary Club since 2015. He is excited to have the opportunity to work with Ezequiel and Apoyo to develop this micro finance project.

Rotary is where neighbors, friends and problem-solvers share ideas, join leaders and take action to create lasting change. For more information, contact President Skip Essick at skipessickmedia@gmail.com.