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P2P Launches Repeat Borrowers Fund for #GivingTuesday
When I started P2P with my Co-Founder, Colette, we didn't know for sure that the concept of providing 0% loans to the working poor would be a sustainable project, but we really believed in the idea that given a help-out rather than a hand-out, people just needed an opportunity and they would provide the proof.
We've made over 60,000 loans now since 2008 with a higher than 98% repayment rate. Our program is working! At this rate, the founding donation made in 2008 will still be making new loans in 2100. Some people we work with tell us we shouldn't mention that our overhead is less than 3% because it's practically unbelievable, but it's true; over 97% of all of the donations made since 2008 have gone directly into our loan-making program.
This GivingTuesday we are launching our new fund to provide repeat borrowers with more support. The most important fact about this fund is what it is NOT. This fund does NOT provide loans to borrowers who already have a loan. P2P has never provided add-on loans or loans to pay back other loans. We work with fully-vetted (face to face) borrowers who are not participating in any kind of trap of cyclical lending. This fund aims to provide more funding to borrowers of ours who have proven themselves successful using an initial loan to accomplish their goals and have successfully repaid it. They are coming back to us to expand their business, grow the number of local people they employ, and be even more successful. These are borrowers who already know how to work well with P2P and the importance of savings, health care, sending their children to school to get an education, and providing stable housing. The in-country partners we work with don't just provide payment processing for us and our borrowers, they also provide education and support to our borrowers. We feel these may be some of the most reliable loans we will make in the future.
The GivingTuesday campaign will run through end of year giving (Nov 28th-Dec 31st), so please share the details if you can. We have exciting matching going on for this fund too. One of of our previous GivingTuesday donors is matching all donations to this fund up to $10,000: Matching is at 100% for the first $5,000 and they will match the next $5,000 in donations at 200% for a total match of $15,000.
P2P Website Donation Page:
https://Poverty2Prosperity.org/donations.html
Even if this fund is not interesting to you, we do have a number of other great funds you can support: Single Parents (also has 100% match currently), Artisans (one of our most reliable repayment rates), Women, Youth (26 & Under), Climate (supports business activities that help alleviate climate change - also has matching), Education (tuition fees and education providers), Agriculture, and Personal Housing. We now have three region-specific funds too: USA, India (Bharat), and Southeast Asia funds. Our Memorial Wall Fund allows you to donate in honor/memory of others too. Our full listing of funds with descriptions is at the donation link above.
Thanks for your time and support,
-Scott
Founder
Poverty2Prosperity.org & Saabnet.com
_______________________________________
Saabnet.com Webmaster
Saabs Owned:
1973 Saab Sonett III (Current)
1983 Saab 900 Turbo
1985 Saab 900 Sedan
1990 Saab 900
1992 Saab 900S
1999 Saab 9-3 Turbo
2005 Saab 9-2X Aero (RIP 95K/Accident-guy ran stop sign)
2005 Saab 9-2X Aero (Current)
2007 Saab 9-3 SportCombi
2010 Saab 9-3X Wagon
Winner 1996 Saab Owners Convention Rally Novice Class
Winner 1999 Saab Owners Convention Rally (All Classes)
Also Founder of two non-profits:
Poverty2Prosperity.org
RunClubMenloPark.org
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(more from Scott Paterson) on Mon, 1 Dec 2025 20:46:34
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