Heard about Microlending? [] Rotary Club – Rotario Midday, A.C.

Published September 4, 2021

by Skip Essick

You will no doubt hear more and more about microlending in the next few months but what exactly is it?

In short, it’s a means of lending money to individuals to help them get started in a small business. This peer-to-peer loan is often given to people in third-world countries, where traditional financing isn’t available. In doing some research on Micro Lending and how Rotary Clubs around the world are using this as a project, I was amazed to learn that there is a lot going on. Typically these projects target primarily women and cooperative groups in the third world and underdeveloped countries. There are currently a number of Rotary-backed projects going on in central and south America as well as throughout the rest of the world.

Presently, under the direction of Norman Feldstein, Tom Schneider, Lee Carter, and Joe Ruffino, our club is hoping to start up a microlending project that would be a great entrepreneurial opportunity for women in the community. I asked Norman to give a brief primer and here is what he writes:

Midday Rotary Club is in the early stages of developing such a project here in the San Miguel area in partnership with Apoyo, a local organization started and lead by Ezequiel Mojica sixteen years ago.  Ezequiel was our Citizen of the year a few years ago and he has been dedicated to helping to educate local adults in the kind of skills that will enable them to raise themselves out of poverty and stay there. During the pandemic he refocused on simply helping to feed the needy in the area but he is now returning to his greater mission.

Midday Rotary Club and Apoyo have had a Memorandum of Understanding in place for a number of months detailing the intention to work together to build an ever-enlarging microlending project.  Midday Rotary Club will be primarily responsible for fundraising and administration of the project and Apoyo will be responsible for the educational programs that will give the loan recipients the needed skills to be successful in their small businesses. Meetings and planning sessions are occurring regularly with Apoyo and with Rotarians who are experienced with this type of project. Norman Feldstein has been spearheading the project and Tom Schneider is in charge of fundraising.

I’m looking forward to seeing our Midday Rotary Club launch this new and exciting initiative.

The Midday Rotary Club of San Miguel de Allende is changing lives of people in our community.  If you are interested in learning about membership, contact our Club President, Skip Essick.

RotarySanMiguelMidday@Gmail.com

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