Economic Programs

Mini-Loan Program

In-Country Director visit to Pala in March 2022 to meet/oversee Mini-loan program

Management of the mini-loan program was transferred to Pala residents four years ago.  This program is a “closed” system in that funds will continue to remain available as loans are repaid.  This program has been an example of how Pala residents can manage financial resources responsibly. There are 86 beneficiaries and all of them have paid the interest money for last year. The loan principal money is expected to be paid in February and new loans will be issued in March.   

The mini-loan committee plans to add 1 to 3 additional people and will start writing guide- lines and resource document for the program.  The intent is to have institutional knowledge that can be passed to future committee members and help ensure the long term future of the program.  Jan.2020 report.

2023 Mini Loan

32 men and 40 women who will be part of the program this year. (2 new men + 4 new women).  

END 2022 YEAR REPORT

In 2022 we had 98 beneficiaries, each received a loan of Q1,000. ALL paid 1.5% of monthly interest during 11 months. 

1,000x 1.5%=15 x 11 = Q165 yearly per person x 98 = Q16,170 Total amount of yearly interest.

Q98,000 Capital 

Q16,170 Interest

Q114,170 = US$15,223 paid back from 2022 loan.