Hi everyone, this is Jeff Rutt with some great news. Have you been considering the purchase of a new home recently? Perhaps your family has outgrown your current home, or you are ready to take the step from renter to homebuyer. If so, 2012 may be the year to take action and buy the home of your dreams. According to this article in Business Insider, home mortgage rates are set to be at an all-time low this year. I hope you take a few moments to check out a few reasons why this year may be the one to become a homeowner.

Many Blessings,

Jeff Rutt

Want A New Mortgage? This Might Be The Month To Get One

Mortgage interest rates are near all-time lows and are likely to remain attractive throughout 2012.

That means the new year will continue to offer good opportunities for homebuyers who need a new mortgage and homeowners who want to refinance an existing obligation.

With that opportunity in mind, here are five reasons why you might want to get a new mortgage this year, and what you should know about the benefits and hurdles of accomplishing this goal.

Buying a personal residence

Economic uncertainty and volatile housing markets have kept so many homebuyers on the sidelines that mortgage purchase applications have dropped to a 15-year low in August, according to the Mortgage Bankers Association.

The lack of applications doesn’t mean buying a home is a bad idea. In fact, quite the opposite is true, as depressed house prices and low mortgage rates have made homes more affordable.

The benefits of owning a home include federal income tax deductions and the satisfaction of not paying rent to a landlord, says Justin Lopatin, vice president of residential banking at Baytree National Bank & Trust in Chicago.

“The money you pay on your mortgage may be slightly higher,” he says, “but at the end of the year, you get the mortgage interest write-off, so you get money back — and you get to own your own property.”

The slow pipeline of new applications can be blamed on the hurdles that buyers face in qualifying for loans. Chief among the challenges are a down payment and the ability to document at least two years of income, Lopatin says. Income documentation can be hard for people who’ve suffered temporary unemployment, are self-employed or have irregular wages.

Buying rental property

Many investors pay cash to purchase residential rental properties. But some take out a mortgage to increase their leverage, says Julie Miller, sales manager at Prospect Mortgage in Irvine, Calif. The benefit is that the investor who holds cash while financing real property can use the cash to make other investments.

Lopatin says low interest rates are also an inducement for investment property buyers.

“If you can take out an investment loan at 4.5 percent and rent out (the property) and make a few dollars a month, annually, the return will be worth the loan,” he says. “Not to mention the tax write-offs and other advantages of owning real estate.”

Mortgage insurance isn’t an option for investment property, so a fat down payment, typically 20 percent or more, is a must.

Investment buyers also need to show that they have enough income and reserves to afford the payments even if the tenant fails to pay the rent or moves out. Lenders typically will count 75 percent of the rent toward the borrower’s income-qualifying ratios, Lopatin says. For example, a monthly rent of $1,000 would count as $750 of income.

Refinancing to get a better rate

Low rates can make rate-and-term refinancing a smart financial move. This type of new loan is exactly what the name implies: a refinance in which the interest rate or term is changed, but the loan amount stays the same.

The chief benefit, Lopatin says, is “reducing your monthly overhead, restructuring your loan to obtain a lower payment.”

Another benefit might be locking in a fixed interest rate instead of an adjustable rate that can rise if market rates go up.

Homeowners who want to refinance must provide income documentation and have a “decent” credit score, to use Miller’s characterization.

Equity is also required for most, though not all, loan refinance programs. This hurdle can be troublesome because homeowners don’t control the market value of their property, Lopatin says.

If your loan amount exceeds the value of your home, consider the Home Affordable Refinance Program, or HARP, which is part of the federal government’s Making Home Affordable initiative. If your loan is insured by the Federal Housing Administration, or FHA, the FHA Short Refi program might enable you to refinance in a negative equity position.

Refinancing to cash out

A home equity loan or line of credit can be a good way to get cash for a variety of financial needs such as remodeling, major home repairs, paying off other debts or financing a college education.

The benefits, Lopatin says, include immediate cash, low-cost debt and potentially an income tax write-off.

Of course, there’s a catch: You can’t borrow against your equity if your mortgage debt exceeds your home’s value.

“They have to be able to income-qualify for the increased loan amount, and the cash-out limit (means) they have to have a bigger equity cushion than a rate-and-term refinance,” she says.

And along with the catch is a caveat: taking out cash isn’t free money. In fact, a cash-out refinance increases your debt, which is “just not wise today,” says Alfred McIntosh, principal of McIntosh Capital Advisors, a financial planning and investment management firm in Los Angeles.

“Part of the reason we’re in this economic situation is that, for a long time, we used our homes as checking accounts,” he says. “We need to break the cycle of constantly inflating our mortgages.”

Helping a family member buy a home

Co-signing a loan to help a family member buy a home might sound like a feel-good proposition. But those warm fuzzies are the only benefit that co-signing a loan offers.

From a purely financial point of view, co-signing someone else’s debt is a bad bargain.

“I see no reason why anyone should co-sign on anything for anyone, unless it’s a relative, because you’re putting yourself in a position to jeopardize your credit,” Lopatin says. “I don’t recommend it, unless there are extenuating circumstances.”

Miller also says being a co-signer involves “more negatives than positives” because the co-signer is equally responsible for the loan. If the borrower fails to make the payments, the co-signer is on the hook.
http://www.businessinsider.com/this-might-be-a-good-time-to-get-a-new-mortgage-2012-1

Thanks again for reading, stay tuned for more articles and comments

-Jeff Rutt

Hi everyone, this is Jeff Rutt with a story I hope you’ll find engaging. Written by Hope Moses-Ashike for Businessday Online and later posted on microfinanceafrica.net, the article focuses on managing debt in Nigeria. While it’s fairly technical and complicated, it’s a great window into the inherent opportunities microfinance offers, particularly when pursued from a disciplined and Christ-centered perspective. Have a great day,

Many blessings, Jeff Rutt

Nigeria: MFBs want CBN to raise firm for bad debt

Bad debt is inevitable in any business, especially in microfinance banking that serves greater number of the uninformed populace.

In this regard, putting in place risk management measures that will ensure that bad debts do not disrupt business operations is very important.

Microfinance banks across the country are faced with the challenge of bad debt which calls for urgent attention stakeholders.

In order to find solution to this problem, the National Association of Microfinance (NAMB) Lagos State chapter, has called on the Central Bank of Nigeria (CBN) to set up companies that can buy up its bad debts.

The Federal Government, through the CBN, last year set up Asset Management Corporation of Nigeria (AMCON), as a special purpose vehicle to manage toxic assets or bad and non-performing loans of the rescued commercial banks.

Operators of microfinance banks also want the regulatory authorities to replicate this in the sub-sector.

Chatting the way forward for microfinance banks, Olufemi Babajide, chairman, NAMB, Lagos Chapter who spoke in an exclusive interview with BusinessDay in Lagos, said the CBN should help microfinance banks set up something in line with the AMCON that will buy their bad debt.

“We need a company that can buy up our debt. So, the CBN should help us set something like AMCON. You know, the big banks, their loans are collaterise, so they are able to sell all these loans to AMCON. In our own case, they are not (collaterised). So, all they can do for us is to buy them up and then give us liquidity so that we can repay over a period of time. Bad debt is a must in this industry and we must put in place structures that will make sure that the bad debt does not hinder our operations. If they buy them up, we will repay over a period of time with interest and we will now use the fund for other businesses, from the businesses we will be able to pay interest and the principal over a period of time. That is what we need next now. These are structures that will ensure that we have a sustainable sub-sector,” Babajide said.

He stated Nigeria is unlike the Asian countries where a dead person is not buried until the relatives pay whatever debt he/she owed while alive. “We do not have that type of practice here. What we need is a company that can buy all the debts of microfinance banks, give them money and they will repay over a period of time,” he stated.

Babajide further explained that the CBN invited memoranda from operators and those from Lagos State sent in a detailed one in that respect. “So we believe they are working on it,” he said.

The NAMB chairman also said that microfinance banks need special court that can try customers that refuse to pay their debts. This, according to him, will ensure they deliver the desired services to their customers.

Ik Awa, managing director, Good Neighbour Microfinance Bank Limited Lagos, said recently in an interview with BusinessDay that the moment an institution is getting into lending, it is getting into a great risk, because one way or the other some of the loans might not come back, even collatarised loan can go bad.

“So, I would not say we do not have some non-performing loans, we do have but it is not outrageous. We try as much as possible to manage our credit so that we do not incur so much non-performing loans”.

Speaking on the issue of bad loan, he said: “When a loan becomes bad, it means it is bad, but it does not preclude you from making up or applying all the necessary tools you need to apply to get back the loan. But when it becomes impossible to collect, you can at times right off.”

http://microfinanceafrica.net/news/nigeria-mfbs-want-cbn-to-raise-firm-for-bad-debt/

Thanks again for reading, stay tuned for more articles and comments

-Jeff Rutt

Hi everyone, this is Jeff Rutt with another blog post that I hope you’ll find interesting- I stumbled across a promotion advertising Philip Smith’s presence as the keynote speaker at a microfinance conference this fall. Philip is the author of A Billion Bootstraps: Microcredit, Barefoot Banking, and the Business Solution for Ending Poverty, a book I recommend checking out. To anyone visiting or residing in Toronto, go listen to what’s sure to be a great presentation!

Many blessings, Jeff Rutt

Billion Bootstraps Co-Author Philip Smith to Speak at Microfinance Event

The Toronto International Microfinance Summit organizers have announced that Philip Smith, successful American entrepreneur and co-author of A Billion Bootstraps: Microcredit, Barefoot Banking, and the Business Solution for Ending Poverty will speak at its Friday Gala and set the tone for the 2-day Toronto event. In its third year, the Summit brings together microfinance practitioners, business, international development agencies, NGOs and students to learn, interact and get involved. This year’s theme – From Microcredit to Financial Inclusion: Making a Difference in our World – is the focus of the signature events:

Gala – September 16 (Arcadian Court, 401 Bay Street) to raise funds for international and domestic microfinance projects and a scholarship. Reception: 6:00 pm, Dinner & Program: 7:30 pm. Silent & live auctions, entertainment.

Conference -September 17 (Allstream Centre, Exhibition Place,105 Princes’ Blvd.) features experts who address the effectiveness of microfinance as a poverty alleviation tool and provide frontline insights from around the world. A NEW MicroMarketplace will showcase products of micro-entrepreneurs. Registration: 7:30 -9:00 am, Program & Lunch: 9:00 am-5:00 pm.

“Microfinance is an effective way to deal with poverty,” says Dr. Carol Golench, President of Toronto International Microfinance Summit. “When you consider that, worldwide, in 2009 over 92 million borrowers from nearly 2,000 microfinance institutions had an average loan balance of $527USD, you realize microfinance is addressing poverty in a significant way and transforming people’s lives.”

“Microcredit enables people to become givers, not takers,” adds Philip Smith. “Microcredit should not be seen as charity but rather as the opportunity poor people need to build a decent life. Through microcredit, donors can shed the old hand-out mentality and become true partners in progress with the people of the developing world.”

Over 30 event speakers include: Bob Annibale – Citi, Joyce Lehman – Bill & Melinda Gates Foundation, Michael Bowles – Aga Khan Foundation, Kadita (A.T.) Tshibaka – Opportunity International USA, Stéphanie Émond – FINCA Canada, Dr. Tanjina Mirza, PLAN Canada, Jeff Rayman – UEnd: Poverty Foundation, Deborah Lindholm – Foundation for Women and Gordon Crann – Rotarian Action Group for Microcredit.

Once again, The MasterCard Foundation is providing financial assistance for the first 100 students to register for the conference. Early Bird Deadline for conference tickets is September 2nd.

Posted on http://www.villagegamer.net/2011/07/29/billion-bootstraps-co-author-philip-smith-to-speak-at-microfinance-summit/

Thanks again for taking the time to read, please stay posted for more information

-Jeff Rutt

Hi everyone, Jeff Rutt here with another article for all of you interested in Microfinance- to those of you familiar with the industry, this article (written by N Srinivasan for CGAP.com) should come as a great encouragement and opportunity for thanksgiving. The Indian government released a draft of the microfinance bill in late July, a bill which is designed to strengthen both microfinance firms and much more importantly, the rights of the clients they serve. HOPE operates in India through savings circles- while different from traditional loan products, the same goal of serving the poor exists. I’d encourage you to investigate our savings products to see how they are practically restoring dignity to our clients and catalyzing economic development all across the globe.

Many blessings, Jeff Rutt

India’s Microfinance Bill Answers Most Questions

by N Srinivasan: Sunday, July 24, 2011

India’s Ministry of Finance released the much awaited draft microfinance bill which is to be introduced in the country’s parliament shortly. This post is the next in a short series of commentary on the bill by a variety of experts from the region on what the bill means for India and the global microfinance industry.

The Government of India promised a new draft microfinance legislation, and it has delivered.  The consultative process adopted, the work done by the Malegam Committee, and the regulations issued by the Reserve Bank of India (RBI) and the participation of the lenders, practitioners and others have made the draft comprehensive and well-rounded.  The Andhra Pradesh statute, despite its debilitating impact on the sector, seems to have triggered this comprehensive response from the Union government.  The need to regulate the microfinance sector in customers’ interest and also the need to avoid a multitude of microfinance legislation in different states has led to this bill which keeps registered microfinance institutions (MFIs) out of the ambit of money lending laws.

The chief features of the bill are that every institution in microfinance should register with the regulator, transform into a company when they attain a significant size, be subject to a variety of prudential and operational guidelines that are introduced by the regulator, provide periodic information to the regulator and face penal action for violation of law or any rules framed. The bill provides flexibility of RBI to apply different measures, vary the same and delegate the powers to regulate to NABARD.

The grievance redressal procedures, mandatory enrollment to credit bureaus and code of conduct enforcement through industry associations will improve customer protection. The creation of national and state councils should provide wider sector participation in policy making.  The proposed microfinance fund that would not only provide grants but also bulk finance to MFIs is a very welcome proposition.

Requiring all institutions, regardless of form, to register as an MFI is a critical and necessary step toward effective regulation.  The reason for excluding cooperative societies accepting deposits from members only from the definition of an MFI is not clear.  There are MFIs which are cooperative in form that deal with members only.  That does not make the members any better protected.  If the cornerstone of the bill is customer protection, it should be extended to cooperative MFIs as well.

National versus state level supervision
While the proposal to set up a strong advisory council at the national level is welcome, the council should be vested with a role in regulation and supervision.  It should be asked to consider periodic reports prepared by the regulator on the state of practice in the sector and compliance with regulation by the institutions.  In addition to other functions described in the bill, the council could perform the functions that Board of Supervision¹  performs in respect of banks.  The State councils are a good way of involving the state governments.  But the councils should be linked to the national council and given a role with content rather than just creating them.  Without a significant role and participation in some manner in the activities of the national council, the state councils will become either defunct or deviant.  The proposal for appointment of an ombudsman is a welcome measure and will boost the industry’s own effort to handle grievances better.

The step of keeping MFIs outside the purview of money lending is a forward looking step that would improve availability of financial services in the hinterland.  Officials in AP have taken exception to a particular provision in the draft bill that seeks to keep MFIs outside money lending law.  This is nothing new, as banks regulated by the Banking Regulation Act are kept outside the purview of state jurisdiction.  Only when the institutions are unregulated and the practice is exploitative and coercive that the States’ powers under money lending Act become enforceable.  The bill introduces regulation relating to form, business, processes, products, pricing and provides a high degree of flexibility to RBI to adopt measures to enforce customer protection practices of a kind not seen in banking regulation.

The requirement of systemically important MFIs to become companies should be strengthened by taking away the option to transform in to a not for profit company under section 25 of companies Act.  The existing regulatory framework of RBI is lenient towards section 25 companies; in fact there is no regulatory effort spent on such companies.  When MFIs become systemically important they should be actively regulated.

Pricing and interest rates
Sections 23 and 24 of the proposed bill contain the substance of RBI’s regulatory powers.  The powers of RBI to issue directions under section 24 are comprehensive and cover almost all aspects of functioning of the MFIs.  For the first time the concept of APR is used in the industry to demystify the pricing of loans. While there seems to be a provision for recognition of  Self-Regulatory Organization of MFIs, the process of recognition has not been spelt out.  The industry associations have a critical role to play in assisting the regulators.  In section 25, the bill has chosen to implement margin caps rather than interest rate caps.  Absolute interest rate caps are anti-market and introduce rigidities.  However RBI has been given the powers to impose an APR cap.  The specific mention of margin cap under section 25 leads one to believe that the margin cap will be imposed across the sector and the APR cap will be used only in exigencies.

An interesting insertion is the possibility of RBI refinance to MFIs.  The proposed Microfinance Development Fund is intended to provide loans, refinance, grants, capital and any other form of financial assistance.  The size of the fund and the RBIs stance on financing microfinance sector will be eagerly awaited.  The refinance facility (whether offered by RBI or arranged through financial institutions) would be a significant step forward for the resource starved sector.

Penalties
The bill proposes penalties for MFIs of a maximum of Rs 5 lakhs (almost $11,000) which seem paltry in comparison with the size of  MFIs and the damage potential of ill-advised actions.  There is a need to raise the maximum penalty and relate the same with the nature of violation of law or regulatory advice, and possibly made proportional to the size of the MFI.  Section 38(1) facilitates RBI to delegate powers under the Act to NABARD.  The wording is carefully done to offer flexibility to RBI to delegate powers in respect of select class of MFIs.  This will ensure that regulatory load can be distributed between RBI and NABARD.  SIDBI could have been brought on board and offered space in regulation.  Perhaps the high level of its financial support to MF sector has restrained the government from including SIDBI on account of the potential for conflict of interest.

Post Andhra Pradesh
Section 42 should provide a sense of relief to the sector reeling from the aftermath of the State legislation on MFIs in Andhra Pradesh.  The registration with RBI effectively protects MFIs from State Government action under money lending laws.  This is a long overdue requirement for conduct of business in microfinance.  States with competing microfinance programs kept themselves above law and influenced the governments to take action against other MFIs.  The sector had been reduced to a state where microfinance became a hazardous business that had to be controlled to the point of extinction.  The proposed bill restores the freedom of enterprises to run a business in financing vulnerable people, subject to reasonable regulations.

MFIs and deposits
The bill, without overtly saying so, hints at the possibility that MFIs will be permitted to mobilize thrift (small illiquid savings).  If the regulations are introduced for this and MFIs permitted to mobilize thrift it would be an exciting development as it makes meaningful financial inclusion possible.  The tough task of ensuring depositor protection remains unexplained.  Whether the bill could have gone a step further and mandated coverage of MFI mobilized thrift under deposit insurance as is the case in some other countries?

The strong customer protection content reflects a significant change in stance on part of the government – that even borrowers are entitled to protection.  The actual measures indicated in the proposed legislation mostly take in to account potential abuses in pricing, competition, and irresponsibility on the part of lender.  The bill requires implementation and enforcement in some cases.  The regulatory capacity has to be ramped up and the small and medium MFIs capacity to comply with regulation would also need to be beefed up. The bill is an important first step; several more steps in translating the bill to action are required before we reach a stage that restores the vitality of the sector.

http://microfinance.cgap.org/2011/07/24/india%E2%80%99s-microfinance-bill-answers-most-questions/

Thanks again for reading, stay tuned for more articles and comments

-Jeff Rutt

Hi everyone, this is Jeff Rutt- I want to take a few moments to share with you another story about the transformative potential microfinance can have for men and women across the globe. Too often, we all seem to become consumed by the details, logistics, and operations behind what we’re doing, and perhaps lose sight of why we do what we do. Let’s all remember that in every technical and intricate aspect of operating microfinance, we should ultimately always return to focusing on our clients- men, women and children created and loved by God. I hope you enjoy this testimony from the Grameen Foundation.

Many blessings, Jeff Rutt

Charity Kulola, Kenya

http://www.grameenfoundation.org/our-impact/charity

When Charity Kulola was sixteen, her father married her off to a man, already husband to two women, in exchange for money for land. During their marriage, Charity bore seven daughters. Furious that she never bore a son, her husband expelled her and their daughters from his home. When Charity’s brother took her in, his wife told her about Yehu Microfinance Trust, Grameen Foundation’s partner in Kenya.

Yehu Microfinance Trust is a microfinance institution in Kenya and a recipient of financing from The Pioneer Fund. Grameen Foundation established this special fund to make sure that well-run local groups reaching the very poorest have access to the money they need to make loans and increase the number of women they serve.

Charity received her first loan of $64 in Kenyan Shillings and opened a stall selling coconuts in the rural coastal village of Chakareli.  With her second loan of $128, she started selling vegetables, too.  Charity recently took out a loan of $102 to invest in a retail shop and diversify her business.

Microfinance has opened up a world of opportunity for Charity and her daughters.  All seven are receiving a formal education, and the second eldest daughter is studying to be a nurse at a local medical school.

Thanks again for taking the time to read, please stay posted for more information

-Jeff Rutt

Hi everyone, this is Jeff Rutt- I want to take a few moments to share with you another story about the transformative potential microfinance can have for men and women across the globe. Too often, we all seem to become consumed by the details, logistics, and operations behind what we’re doing, and perhaps lose sight of why we do what we do. Let’s all remember that in every technical and intricate aspect of operating microfinance, we should ultimately always return to focusing on our clients- men, women and children created and loved by God. I hope you enjoy this testimony from the Grameen Foundation.

Many blessings, Jeff Rutt

Charity Kulola, Kenya

http://www.grameenfoundation.org/our-impact/charity

When Charity Kulola was sixteen, her father married her off to a man, already husband to two women, in exchange for money for land. During their marriage, Charity bore seven daughters. Furious that she never bore a son, her husband expelled her and their daughters from his home. When Charity’s brother took her in, his wife told her about Yehu Microfinance Trust, Grameen Foundation’s partner in Kenya.

Yehu Microfinance Trust is a microfinance institution in Kenya and a recipient of financing from The Pioneer Fund. Grameen Foundation established this special fund to make sure that well-run local groups reaching the very poorest have access to the money they need to make loans and increase the number of women they serve.

Charity received her first loan of $64 in Kenyan Shillings and opened a stall selling coconuts in the rural coastal village of Chakareli.  With her second loan of $128, she started selling vegetables, too.  Charity recently took out a loan of $102 to invest in a retail shop and diversify her business.

Microfinance has opened up a world of opportunity for Charity and her daughters.  All seven are receiving a formal education, and the second eldest daughter is studying to be a nurse at a local medical school.

Thanks again for taking the time to read, please stay posted for more information

-Jeff Rutt

Hi everyone, this is Jeff Rutt with great news that I hope you’ll find encouraging. The African Development Bank has launched a microfinance fund with the intention of increasing transparency and effectiveness. This article, written by Ekow Quandzie at Ghana Business News, fills in the details.

Many blessings, Jeff Rutt

African Development Bank launches microfinance fund, calls for proposals from Ghana, others

The African Development Bank (AfDB), in partnership with the Government of Spain has launched the Microfinance Capacity Building Fund (MCBF) for Africa which will provide technical assistance to microfinance companies.

The AfDB says, the MCBF which was launched on July 19, 2011, will help increase transparency within the microfinance sector and deepen outreach to rural areas.

The Bank is therefore calling for proposals from countries such a Ghana, Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and other countries within the West African Economic Monetary Union and ECOWAS.

“The fund will provide awards through three separate Calls for Proposals, occurring annually over the course of 2011 – 2013.  Each call will focus on a specific area(s) of intervention and a specific set(s) of African countries,” the AfDB noted.

The timelines for the MCBF project are as follows:

• July 19, 2011: First Call for Proposals opens

• September 19, 2011: Deadline to submit proposals for first phase

• October 2011: Grantees notified

• November 2011: Funds disbursed

• May 2012: Launch of Second Call for Proposals

• May 2013: Launch of Third Call for Proposals

The award amounts will range from approximately €200,000 to €500,000 per project, depending on the activity, and will be given to a total of approximately eight to 10 awardees.

http://www.ghanabusinessnews.com/2011/07/25/african-development-bank-launches-microfinance-fund-calls-for-proposals-from-ghana-others/

Thanks again for reading, stay tuned for more articles and comments, Follow me on Twitter

-Jeff Rutt

Reflecting the company’s core values, a percentage from each Keystone Custom Homes sale goes to HOPE International, a non-profit charitable network of microfinance institutions founded by Keystone Custom Homes CEO, Jeff Rutt, in 1997 in Lancaster, Pa. Only 13 years later, the now worldwide organization currently serves over 265,000 active clients. By providing small business loans and basic business training, HOPE empowers individuals to defeat poverty while preserving dignity. Because poverty disproportionately affects women and their children, HOPE International concentrates over 80 percent of its efforts on women. Jeff Rutt’s ongoing leadership of HOPE earned him the national Hearthstone Builder Humanitarian Award in 2008.

Do you have a business and would like become involved in a wonderful non-profit charity? HOPE International has many ways you can help and create an event to host or attend. Check out the link below and contact us to get involved!

Here are some great events that are coming up!

EVENTS

Over the past several years, I have had the immense privilege of traveling with each of my children to visit HOPE’s work in person, giving them the opportunity to witness firsthand the transformation that takes place when the poor receive the capital they need to invest in their businesses. This past summer, my youngest daughter, Leah, and I traveled to Rwanda, Burundi, and Ukraine: three countries where we witnessed God at work in amazing ways. In Burundi*, we met Anastasia, a client who first started out with a $50 loan. With that money, Anastasia bought 20 chairs, which she then rented out to people for their events. As she worked hard, saved, and continued taking out loans, she has expanded her inventory to include not only 200 chairs but also baskets, plates, a stereo system, and three wedding dresses in three different sizes. The innovation and determination she has shown is inspiring. Because of her increased profits, she has been able to adopt two girls whose parents were killed in the recent civil war. Anastasia dreams of sending these two girls to the university to get an education—thus continuing this transformation into future generations.

In Chaplino, Ukraine, we were part of a group volunteering at an English-teaching Bible camp hosted by the Tomorrow Clubs, a children’s ministry funded in part by the profits from HOPE Ukraine’s ministry. In our week there, we saw 43 kids trust Jesus Christ as their Savior. By the end of the week, the pastor of the local church was so excited with the potential of these camps that he started pleading with us to start a weekly Tomorrow Club in that town. His congregation was mainly composed of elderly individuals, and he envisioned the increased impact of his church if they were able to reach all these children and their parents. One of the members of our group was similarly excited by this vision, immediately donating the $500 needed to fund a Tomorrow Club. Traveling with my daughter Leah, I was struck anew with how blessed I’ve been to have always had the opportunity to provide for my children. We met client after client expressing incredible gratitude because they are now able to provide for their children through their businesses, rather than relying on others. The dignity and the hope that we saw on their faces was beautiful, and I am so grateful for everyone who has partnered with HOPE, impacting entire communities through clients like Anastasia and initiatives like the Tomorrow Clubs.